Leading Scottish financiers line up to support Independence

Sir George Mathewson former chief executive and chairman, Royal Bank of Scotland

Sir George Mathewson former chief executive and chairman, Royal Bank of Scotland

In a letter to the Financial Times several of the leading figures in the Scottish finance sector have joined together to support independence.  

This move led by former RBS Chairman Sir George Mathewson shows clearly that suggestions that the sector is opposed to a Yes vote are unfounded.

More and more of Scotland’s businesspeople are moving to support independence.  The No campaign is desperately trying to get their allies within London business to speak out but when they do in a purely personal capacity they are drowned out by the voices of the real Scottish job creators who see independence as the business opportunity of a lifetime.   


We are surprised by the pronouncements of Scottish Financial Enterprise staff (“Scottish fund managers fear break-up bill”, February 4) about the choice facing the people of Scotland this September, and we note that they have not been formally endorsed by the full board of that organisation. In our combined personal view, these views do not reflect the balance of opinion in the Scottish financial sector, nor provide an objective analysis of the opportunities and risks involved – whether a Yes or a No vote is recorded.

The referendum is a choice between two paths, both of which involve change. In the case of Scotland after a No vote, there is no clear plan for or certainty around taxation, regulation or the wider business operating environment, and no guarantee of continued European Union membership.

Any truly objective analysis of what the referendum means for business requires a more thoughtful consideration of the UK’s current trajectory, and the opportunities for protecting and growing leading industries with significant potential. There are certainly opportunities to attract more jobs and investment to Scotland with the powers of independence and significant opportunities in an independent Scotland for financial services.

George Mathewson, Chairman, Toscafund; former chief executive and chairman, Royal Bank of Scotland

Angus Tulloch, Senior Edinburgh fund manager

James Scott, former executive director, Scottish Financial Enterprise

Frank McKirgan, founding partner, MLI Partners

Prof David Simpson, former senior economic adviser, Standard Life

Jim Spowart, founder, Standard Life Bank, Direct Line Financial Services, Intelligent Finance

The Letter in the Financial Times – Split emerges in Scottish financial community over independence

Join Business for Scotland – Read More


Category: Economics of Independence, Uncategorized

About the Author ()

Gordon MacIntyre-Kemp is the Founder and Chief Executive of Business for Scotland. Before joining Business for Scotland full time first as its MD and then CEO he ran a small social media and sales & marketing consultancy. With a degree in business, marketing and economics, Gordon has worked as an economic development planning professional, and in marketing roles specialising in pricing modelling and promotional evaluation for global companies (including P&G). Gordon benefits (not suffers) from dyslexia, and is a proponent of the emerging New Economics School. Gordon contributes articles to Business for Scotland, The National and The Huffington Post.

Comments (6)

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  1. Fergus MacWilliam says:

    If you’ve so much support how comes there are no businesses that actually produce anything supporting Business For Scotland. We know you can talk for Scotland but can you make anything for Scotland and the UK or are you leaving it to pro UK businesses to do that?

    • David Lafferty says:

      Fergus, my business manufactures and exports equipment to the oil, gas, chemical and power industries in 50 countries and I’m desperate to get out of the union. You should not be asking, why are there not manufacturers in business for Scotland, you should be asking what happened to all the large and small manufacturing companies while under the union.

      I can assure you as a manufacturer British embassies overseas, British government don’t give a monkies about business unless you are a huge company, arms manufacturer or whisky maker etc.

      Currency, my business trades in pounds, euro, dollars and any currency the customer wants to pay us in and the lies on currency from better together beggars belief.

      Last but not least I have offered £20,000 to better together if they come to my factory and show us one tiny thing the union has done for us. “Still waiting”

  2. Craig says:

    BBC Scotland’s late evening news last night gave a vague report on this for only 10 seconds and didn’t even mention any names or credentials of those concerned. Once again a poor show by the BBC.

    • john nicolson says:

      I have lost all faith in the BBC. I used to believe they stood for the truth but as my dad used to say when you leave out facts its as bad as telling a lie.

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