Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has appointed Benny Higgins, the former boss of Tesco Bank, as its new chairman.

Currently chairman of Glasgow-based investment firm N4 Partners, whose seven-figure investment last year made it the majority shareholder of Wbg, Higgins succeeds Lorna Jack as chairman of the ambitious accountancy firm.

Having overseen a series of acquisitions, the opening of a new office network and the rebranding of the companies within the group structure to Wbg, Jack, former chief executive at The Law Society for Scotland, current chairman of Highlands and Islands Airports, vice chair of Scottish Funding Council and honorary consul for the Netherlands in Scotland, steps back from her role as Wbg chair to become a member of N4’s advisory board.

Allan Dowie, Wbg CEO, said: “Lorna has done a tremendous job overseeing Wbg’s growth to date and I thank her for her valuable contribution in putting the building blocks in place for the firm.

Benny is taking over at a very exciting time as we embark on the next phase of our journey, and he will be instrumental in helping us realise our ambitious targets on the next phase of our growth strategy.”

He added: “We see enormous potential, based on the current platform and management team, to grow organically and expand the business further with some exciting acquisitions on the horizon.

In Benny, we have acquired an exceptional individual who shares our passion for forming meaningful partnerships across the business community. Given his stellar reputation and connections, his appointment as chair will enhance Wbg’s profile as we embark on our latest phase of significant growth.”

Higgins has enjoyed an illustrious career to date working at an array of high-profile organisations throughout financial services, beginning his career at Standard Life, where he became a member of the Standard Life Group Executive Committee in 1996, before moving to RBS to become Chief Executive of Retail Banking where he led the successful integration of NatWest Retail Banking, one of banking’s largest ever hostile takeovers.

Following a senior role with HBOS, he held the position of Chief Executive at Tesco Bank from 2008 until 2018. Latterly, he was appointed as Strategic Adviser to the First Minister to help develop and implement the creation of a Scottish National Investment Bank.

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.

New Wbg chairman, Benny Higgins, commented: “Having served as chairman of N4 for some years now, I’m delighted to take on the same role at Wbg, to continue the track record of growth overseen by Lorna in that role and to spearhead the next phase of the firm’s strategic development to realise its growth ambitions.

Our targets are to grow our fee income to £30m in three years and £50m in five years to achieve a ranking in the top 30 UK full-service professional services firms.”

He added: “We are committed to being a forward-thinking professional services firm, dedicated to empowering our team, utilising cutting-edge technology, and a trusted partner delivering superior value to clients and stakeholders through being acknowledged as an employer of choice, partnering with our clients and developing our local communities.”

Wbg currently has 190 employees operating across a six-strong office network with a fee income of £14 million serving over 10,000 clients, 70% of which are based in Scotland, the remainder of which are based in the rest of the UK.