The chair of Scotland’s state-owned investment bank is to be quizzed by MSPs tomorrow after the abrupt resignation of its chief executive.

Holyrood’s economy committee summoned Willie Watt following the exit of Eilidh Mactaggart from the £2billion organisation last month.

Ms Mactaggart left the £235,000-a-year post with immediate effect after just 18 months in charge, but the bank refused to say why she had done so.

SNP finance secretary Kate Forbes and First Minister Nicola Sturgeon then repeatedly refused to tell the Parliament what the bank had told them about the matter, despite the bank’s public funding.

Although £2bn of taxpayers’ money is going into the Scottish National Investment Bank (SNIB) over 10 years, and Scottish Ministers are the sole shareholders, both women said

Ms Mactaggart's resignation was solely a matter for her and the bank’s board.

After MSPs complained vigorously about the lack of transparency, Ms Mactaggart issued a personal statement on March 4 that did little to explain her departure.

She said she was proud of her achievements at the SNIB, and the decision to leave was “difficult” and “ultimately it was made for personal reasons”. 

However she also said she was “considering a number of opportunities”, suggesting her personal reasons for leaving related to the bank, not simply events in her private life. 

Mr Watt will appear before MSPs on Wednesday morning alongside lawyer Carolyn Jameson, one of the SNIB’s board members.

It was initially thought that Mr Watt would testify to Holyrood’s finance committee, but the economy committee, chaired by Labour MSP Claire Baker, will act as inquisitor instead. 

The SNIB, which went live in November 2020, uses public seed money to support green jobs and the just transition to a net zero economy. 

It has already disbursed £200m to 13 projects and employs 50 staff.