The Scottish National Investment Bank has appointed Graeme Sands to the newly-created role of chief portfolio officer to oversee the performance of its investee companies.
Mr Sands’ appointment to the executive team reflects follows recent highly-publicised losses at some of the bank’s investments.
The bank says the role reflects the funder’s “evolving approach to the active management of its assets”.
Mr Sands joins the bank from his role as director of retail banking at Virgin Money, with a career at the company spanning two decades, during which time he held senior roles in business banking, product development and digital delivery.
A chartered accountant, he moved into banking following an advisory role at PwC and senior management positions in the technology industry.
David Ritchie, chief executive of SNIB, said: “Since launch, we have invested in a promising portfolio of businesses, working across a diverse range of sectors.
“As the portfolio grows in scale and maturity, it is increasingly important that we support these businesses to capitalise on strategic growth opportunities, navigate uncertainty or challenge, and maximise their long-term economic and social impact across Scotland.
“Graeme brings considerable banking and advisory experience, alongside valuable knowledge of the technology sector.
“His leadership will be instrumental in strengthening how we manage and support our portfolio to help the businesses we invest in scale their growth, build resilience and deliver meaningful contributions to Scotland’s economic growth.”
Mr Sands said: “Since its inception, the bank has established itself as a leading impact investor and an important player in shaping Scotland’s financing ecosystem.”
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