The chief executive of the Scottish National Investment Bank (SNIB) has abruptly left her post.

The bank said Eilidh Mactaggart had resigned from her role with immediate effect, but gave no further details.

SNIB’s chief financial officer Sarah Roughead will act as chief executive while the board looks for a permanent replacement.

Ms Mactaggart was chosen to lead the bank in April 2020, ahead of its launch in November of that year.

MSPs had passed legislation to set up the bank, which is designed to make long-term investments in Scottish firms, over a period of 10 to 15 years.

Its primary goal is to help Scotland transition to net-zero carbon emissions, while supporting small and medium-size enterprises.

The Scottish government committed to putting £2bn of funding into SNIB over the next decade.

In a statement on Friday, SNIB said its board and executive team would “continue to deliver on the bank’s missions”.

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