Chief SLA economist named new Holyrood tax boss

Standard Life Aberdeen’s chief economist (SLA) is to leave the Edinburgh-based financial giant after 13 years to take up a newly created role at the new the new Scottish Exchequer at the Scottish Government.

Lucy O’carroll has accepted the role of director of taxation, a position described as “very senior” in the newly created government department where she will be responsible for fiscal and macroeconomic policy across Scotland.

Having previously been a senior economist at the Bank of England prior in the 1990s, she will take up her new post in January.

Ms O’carroll said: “I would like to thank Keith and Martin for the wonderful experience I have gained at Aberdeen Standard Investments. The opportunity to take up such an exciting new challenge within the Scottish Government was one I simply couldn’t resist.”

Keith Skeoch, co-chief executive of SLA, praised O’carroll for the “intellectual rigour, leadership and enthusiasm” she brought to her role.

“Given our heritage, and the importance of Scotland to our business, we are proud that Lucy has been offered such an important position. After five years spent at the Bank of England earlier in her career, I admire her commitment to public service. She leaves with our best wishes.”

A spokesman for the Scottish Government welcomed O’carroll’s appointment as the first director of taxation in the Scottish Exchequer.

A spokesperson said: “This key role has been created in recognition of the increased breadth of the Scottish Government’s tax-raising powers and the central importance of inclusive growth and fiscal sustainability.” 0 Lucy O’carroll faces “an exciting new challenge”