VETERAN merchant banker Ewan Brown has become chairman of Scottish Financial Enterprise, writes Tim Sharp.

He succeeds Mark Tennant, the investment banker and former Scots Guard who has held the unpaid position since 2009.

Mr Brown said: "The financial services industry is hugely important to Scotland and I feel privileged to have this opportunity to play a part in supporting and promoting an industry in which I have spent my entire working life.

"The industry has, of course, faced challenges in recent times and the current global uncertainties will present us with others in the coming years. Despite these challenges, the Scottish financial services industry remains diverse, dynamic and flourishing, with great potential to develop further."

Mr Brown qualified as a chartered accountant with Peat Marwick Mitchell before joining Edinburgh-based Noble Grossart merchant bank in 1969.

He was an executive director of the firm for 35 years and is now a non-executive director of Noble Grossart Holdings.

He is also a non-executive director of Perth-based rail and bus group Stagecoach, as well as senior governor of St Andrews University, deputy chairman of the Edinburgh International Festival and treasurer of the Royal Society of Edinburgh.

He was chairman of Lloyds TSB Scotland from 1999 to 2008 and has held directorships at a number of Scottish financial services companies.