STATEMENT ON GOVERNMENT INVESTMENT IN BANKS
October 13, 2008
Owen Kelly Chief Executive of Scottish Financial Enterprise, said:
"After a period of instability, the announcements today from the Government and the banks bring some welcome certainty and clarity. Their consequences and implications will take some time to assess in full. We intend to work closely with all of our members to ensure that Scotland's standing as an international financial services centre is maintained and that our banks return as soon as possible to their customary levels of success and profitability.
At times like this, the diversity of our industry is a source of real resilience. Fund management, insurance, life and pensions, asset servicing - these sectors are as much a part of our industry as our banks and they are coping well with very challenging market conditions. And Scotland's enduring strengths - skills, a long-term approach to investments, high professional standards - retain their essential value in the global marketplace for financial services."
