The Board of The Scottish American Investment Company P.L.C. announced the appointment of Sir Nicholas Macpherson GCB as a non-executive Director of the company with effect from 15 September 2016. Sir Nicholas was Permanent Secretary to the Treasury from 2005 to 2016, leading the department through the global economic and financial crisis. Prior to that, he held a number of senior posts at the Treasury, including heading the Spending and Tax directorates. Sir Nicholas is currently Chairman of C Hoare and Co, and is a visiting Professor at King's College, London.