Scottish National Investment Bank: review of performance 2026

Managing investments

75. In the first period of the Bank’s existence, the priority was rightly on establishing the institution, developing its investment strategy, and building a portfolio of viable investments that speak to the missions, vision and mandate for the Bank. However, how the Bank manages its relationships with investees after its initial investment decision is also important both in terms of maximising the potential of the investment and in addressing any concerns that may emerge in a timely and effective way. A patient investor must not be a passive investor.

76. I was therefore encouraged to hear about the increased focus within the Bank on more active management of its portfolio; on broadening its network of potential non-executives to sit on the board of investee companies; and giving formal status and a larger role to its internal asset management committee. I was also pleased to hear of the creation of a new senior role of chief portfolio officer working alongside the chief investment officer as a member of the executive team. These seem to me to be evidence of a timely development in emphasis.