Benny Higgins, the art-loving former boss of Tesco Bank, has joined Wbg, the independent specialist full-service accountancy firms, as its new chairman.
Higgins, who is currently chairman of Glasgow-based investment firm N4 Partners, whose seven-figure investment last year gave it a majority shareholder of Wbg, succeeds Lorna Jack as chairman of the accountancy firm.
Jack, the former chief executive at the Law Society for Scotland, current chairman of Highlands and Islands Airports, vice chair of Scottish Funding Council and honorary consul for the Netherlands in Scotland, oversaw a series of acquisitions, the opening of a new office network, and the rebranding of the companies within Wbg
She steps back from her role as a chair to become a member of N4’s advisory board.
Allan Dowie, Wbg’s chief executive officer, said: “Lorna has done a tremendous job overseeing Wbg’s growth to date and I thank her for her valuable contribution in putting the building blocks in place for the firm.”
He said Benny Higgins is taking over at an exciting time as Wbg moves into the next phase of growth.
“In Benny, we have acquired an exceptional individual who shares our passion for forming meaningful partnerships across the business community … his appointment as chair will enhance Wbg’s profile as we embark on our latest phase of significant growth.”
Higgins has enjoyed an illustrious career beginning at Standard Life in 1983, where he became a member of the Standard Life group executive committee in 1996, before moving to RBS to become chief executive of Retail Banking. He led the integration of NatWest Retail Banking – one of banking’s largest takeovers.
Following a senior role with HBOS, he held the position of chief executive at Tesco Bank from 2008 until 2018. Latterly, he was appointed as strategic adviser to the First Minister to help develop and implement the creation of a Scottish National Investment Bank.
He was subsequently appointed as strategic adviser to the First Minister and chairman of the Scottish Government’s Advisory Group on Economic Recovery post COVID-19. He has also been chairman of Buccleuch Group, the Duke of Buccleuch’s portfolio of forestry and estates, and chairman of the National Galleries of Scotland and the Edinburgh Fringe Society.
Benny Higgins said: “Having served as chairman of N4 for some years now, I’m delighted to take on the same role at Wbg, to continue the track record of growth overseen by Lorna in that role and to spearhead the next phase of the firm’s strategic development to realise its growth ambitions.”
“Our targets are to grow our fee income to £30m in three years and £50m in five years to achieve a ranking in the top 30 UK full-service professional services firms. We are committed to being a forward-thinking professional services firm, dedicated to empowering our team, utilising cutting-edge technology, and a trusted partner delivering superior value to clients and stakeholders.”
Wbg has 190 employees operating across a six-strong office network with a fee income of £14m serving over 10,000 clients, 70% of which are based in Scotland, the remainder of which are based in the rest of the UK.
Read Wbg’s press release here: https://wbg.co.uk/blog/wbg-appoints-former-tesco-bank-boss-as-chairman/
Read more about The Scottish National Investment Bank in our DealMaker’s Directory here: https://www.thebusiness.scot/dealmakers/scottish-national-investment-bank/
