Willie Watt has been welcomed as the first Chair of the Board of the Scottish National Investment Bank which will be operational next year, investing in businesses and communities across Scotland.

The Scottish Government has committed to investing £2b to capitalise the bank over 10 years enabling it to become a cornerstone institution in the Scottish economy.

Derek Mackay (pictured), Economy Secretary, said the bank has the opportunity to transform and grow Scotland’s economy.

He added: “Willie’s background in investment, and his wealth of experience in building organisations with the right kind of culture and values, will help to shape it as a trusted and credible financial institution now and for generations to come.

“I look forward to working together as we build an ethical, sustainable and inclusive Bank to support economic growth across Scotland and help businesses and communities to flourish.”