The Scottish National Investment Bank has appointed David Ritchie as its new CEO, succeeding Al Denholm, who is retiring after a 40-year career in investment.

Ritchie was a founding member of the bank and most recently served as chief strategy officer, playing a key role in its launch in 2020.

The bank has committed more than £990 million across 49 businesses and helped attract a further £1.4 billion in co-investment.

Ritchie will lead the organisation as it continues to focus on its missions around net zero, place and innovation.