FinTech Scotland, established by the Scottish Government, the University of Edinburgh and the private sector to boost growth in Scotland’s financial technology sector, has appointed David Ferguson, founder of investment wrap service Nucleus Financial, as its inaugural Chairman.
The appointment was confirmed at a joint Scottish Government and Financial Services Advisory Board (FiSAB) meeting chaired by the First Minister, Nicola Sturgeon, and Chair of Scottish Financial Enterprise Jim Pettigrew. Four companies were also named as FinTech Scotland strategic partners.
David Ferguson, founder and Chief Executive of Edinburgh-based fintech business Nucleus Financial, was appointed by the UK Treasury in December 2016 as one of two fintech envoys for Scotland, with a remit to build regional and national networks for greater co-ordination and collaboration between fintech companies, government, investors and regional fintech hubs.
FinTech Scotland Chief Executive Stephen Ingledew said: “It was essential for us to have a highly respected fintech leader chairing our board and David, who has built one of the most successful businesses in the country managing over £14 billion on their wrap platform, ticked all the boxes and more.”
“It is a great privilege to have been appointed as chair of the FinTech Scotland board. Fintech is a fantastic opportunity for Scotland and I am excited to build on the great strides we have recently made to position ourselves as a global leader.
The country should have a bright and prosperous fintech future ahead of it and I am greatly looking forward to helping Stephen and the team drive the sector forward and deliver meaningful action to help both start-ups to flourish and the more substantial financial services establishments to modernise.”
– David Ferguson, Chairman of FinTech Scotland
Edinburgh Innovations played a key role in the establishment of FinTech Scotland, and has provided office accommodation to the FinTech Scotland team. At the FiSAB meeting Ingledew set out FinTech Scotland’s ambitious vision and strategy to make Scotland a top five global fintech centre by 2020 that is recognised for data driven fintech innovation delivering positive social outcomes.
To deliver a range of initiatives, FinTech Scotland has partnered with global enterprises who have a strong presence in Scotland as well as being significant international leaders in their fields: professional services firm Deloitte, fintech legal specialist Pinsent Masons, digital media and maketing agency Dentsu Aegis Network, and digital transformation and software group Sopra Steria.
Ingledew said: “It is a privilege to be working with such world-renowned organisations who are committed to supporting Scotland’s fintech economy. Following many conversations with a range of large firms over recent months, these strategic partners demonstrated their commitment and market leadership which will support our aspirations and plans. We are currently in discussions with a view to confirming additional strategic partners in the coming weeks”