Glasgow-based investment firm N4 Partners has appointed former Tesco Bank chief executive Benny Higgins as its new chairman.

Mr Higgins takes up the role on September 1 following an extensive career in the financial services sector. He began his career at Standard Life, where he became a member of the Standard Life Group Executive Committee in 1996, before moving to RBS as chief executive of retail banking. During that time, he led RBS's integration with NatWest retail banking in one of the largest hostile takeovers ever undertaken in the sector.

Following a senior role with HBOS, Mr Higgins held the position of chief executive at Tesco Bank from 2008 until 2018.

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Latterly, he was appointed as strategic adviser to the First Minister to help develop and implement the creation of a Scottish National Investment Bank. As a result of this work, 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.

“In Benny, we have acquired an exceptional individual who shares our passion for forming meaningful partnerships across the business community," a spokesman for N4 said.

"Given Benny’s stellar reputation and wide range of connections after leading some of the most recognisable brands in the financial services sector, we are confident his appointment as chairman will help to significantly raise the profile of N4 as we continue to work with ambitious and driven organisations at what is undoubtedly a pivotal time for the global business community.”

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Mr Higgins added: “I’ve known the nucleus of the team at N4 for a number of years now and I’m thrilled to formalise our partnership and become part of a new firm determined on growing and supporting businesses throughout the UK and beyond.”

Mr Higgins will also chair N4's advisory board, where further appointments are expected in the coming weeks. Set up in 2020, N4 has made five appointments so far this year as it expands both its investment and portfolio solutions practices.