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Science and Technology
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Science and Technology
Source : (remove) : Patriots Wire
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Benny Higgins joins fast-growing accountancy firm Wbg as new chairman

Benny Higgins, Former Tesco Bank Chief, Takes Helm as Chairman of Rapidly Expanding Accountancy Firm WBG

In a significant move within Scotland's bustling business landscape, Benny Higgins, the seasoned executive renowned for his leadership at Tesco Bank and his influential roles in Scottish finance, has been appointed as the new chairman of WBG, a fast-growing accountancy firm based in Glasgow. This appointment, announced today, marks a pivotal moment for WBG as it continues its aggressive expansion strategy amid a competitive market for professional services. Higgins, whose career spans decades in banking and economic advisory, brings a wealth of experience that is expected to propel the firm to new heights, fostering innovation and growth in an industry increasingly shaped by digital transformation and regulatory changes.

Higgins' journey to this role is nothing short of illustrious. Born and raised in Scotland, he has long been a prominent figure in the nation's economic circles. His most notable tenure was as the chief executive of Tesco Bank, where he oversaw the institution's growth from a fledgling operation into a major player in the UK retail banking sector. Under his stewardship, Tesco Bank expanded its customer base significantly, introducing innovative products like personal loans, credit cards, and insurance services that integrated seamlessly with the supermarket giant's ecosystem. Higgins' strategic vision helped navigate the bank through turbulent times, including the aftermath of the 2008 financial crisis and the challenges posed by Brexit uncertainties. His ability to blend retail acumen with financial expertise earned him accolades and positioned him as a go-to advisor for Scottish economic policy.

Beyond Tesco Bank, Higgins' resume is packed with high-profile positions that underscore his deep ties to Scotland's business community. He previously served as the chief executive of Retail Banking at the Royal Bank of Scotland (RBS), where he played a key role in restructuring efforts during a period of intense scrutiny and recovery. His leadership there was instrumental in stabilizing operations and refocusing on customer-centric services. More recently, Higgins has been involved in advisory capacities, including chairing the Scottish Government's Economic Recovery Implementation Group in the wake of the COVID-19 pandemic. This group was tasked with devising strategies to rebuild the economy, emphasizing sectors like tourism, manufacturing, and financial services. His insights into sustainable growth and resilience have made him a respected voice, often called upon by policymakers and industry leaders alike.

The appointment at WBG comes at a time when the firm is experiencing unprecedented growth. Founded in the early 2000s, WBG has evolved from a modest accountancy practice into a dynamic player offering a suite of services including audit, tax advisory, corporate finance, and business consulting. Headquartered in Glasgow with offices in Edinburgh, Aberdeen, and increasingly across the UK, WBG has capitalized on the demand for specialized financial expertise in a post-pandemic world. The firm's client portfolio spans diverse industries, from renewable energy and technology startups to established manufacturing giants and public sector entities. In recent years, WBG has reported double-digit revenue growth, attributing this success to its focus on digital tools, such as AI-driven analytics and cloud-based accounting platforms, which have streamlined operations for clients and enhanced efficiency.

What sets WBG apart in the crowded accountancy field is its commitment to innovation and client-centric solutions. Unlike traditional firms that might rely on legacy systems, WBG has invested heavily in technology, partnering with fintech companies to offer real-time financial insights and predictive modeling. This forward-thinking approach has attracted a younger demographic of entrepreneurs and scale-ups, particularly in Scotland's thriving tech scene. The firm's expansion strategy includes mergers and acquisitions, with recent deals bolstering its presence in England and exploring opportunities in Europe. As chairman, Higgins is poised to guide this trajectory, leveraging his experience in scaling financial institutions to help WBG navigate potential challenges like economic volatility and evolving tax regulations.

In a statement released by WBG, Higgins expressed enthusiasm about his new role. "I am delighted to join WBG at such an exciting juncture in its development," he said. "Scotland's economy is brimming with potential, and firms like WBG are at the forefront of supporting businesses to thrive. My goal is to build on the strong foundations already in place, driving innovation and ensuring we deliver exceptional value to our clients. Having spent much of my career in banking, I see tremendous synergies between traditional finance and the agile services WBG provides. Together, we can foster sustainable growth that benefits not just our clients but the wider Scottish economy."

WBG's managing partner, whose name was not disclosed in the announcement but is known to be a key driver of the firm's growth, echoed these sentiments. "Benny Higgins is a visionary leader whose track record speaks for itself," the partner stated. "His appointment as chairman is a testament to our ambition and a signal to the market that WBG is serious about leading in the professional services sector. We look forward to his guidance as we expand our footprint and enhance our offerings."

This move is particularly timely given the broader context of Scotland's business environment. The nation is grappling with the impacts of global events, including inflation pressures, supply chain disruptions, and the push towards net-zero emissions. Accountancy firms like WBG play a crucial role in advising businesses on compliance, funding, and strategic planning. Higgins' involvement could amplify WBG's influence, potentially leading to collaborations with government initiatives aimed at economic recovery. For instance, his past work on the Economic Recovery Group aligns with ongoing efforts to boost sectors like green energy, where WBG has been advising on investment incentives and sustainability reporting.

Industry analysts have reacted positively to the news, viewing it as a strategic coup for WBG. "Benny Higgins brings gravitas and a network that few can match," noted one financial commentator. "In an era where accountancy is about more than just numbers—it's about strategy and foresight—his expertise will be invaluable. This could position WBG as a top-tier firm not just in Scotland, but across the UK."

Higgins' personal story adds a layer of inspiration to his professional achievements. A graduate of the University of Glasgow, he has often spoken about the importance of education and mentorship in his rise from humble beginnings. He has been an advocate for diversity in finance, supporting initiatives to bring more women and underrepresented groups into leadership roles. At Tesco Bank, he implemented programs that promoted inclusive hiring and professional development, which contributed to a more dynamic workforce.

Looking ahead, Higgins' chairmanship at WBG is expected to involve overseeing board decisions, shaping corporate strategy, and representing the firm in key stakeholder engagements. With his background, he may push for greater integration of banking insights into accountancy practices, such as enhanced risk management tools or advisory services for SMEs navigating post-Brexit trade complexities.

The appointment also highlights a trend in the professional services industry: the blending of executive talent from banking into advisory roles. As firms like WBG seek to differentiate themselves, attracting high-caliber leaders like Higgins becomes essential. This could inspire similar moves across the sector, where experienced executives transition to non-executive positions to mentor the next generation.

In conclusion, Benny Higgins' move to WBG as chairman is more than a personnel change; it's a statement of intent for a firm on the rise. With his proven track record, strategic acumen, and passion for Scottish business, Higgins is well-equipped to steer WBG through its next phase of growth. As the firm continues to expand, this partnership promises to deliver innovative solutions that support businesses in an ever-changing economic landscape. Stakeholders will be watching closely to see how this dynamic unfolds, potentially setting new benchmarks for the accountancy profession in Scotland and beyond.

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Read the Full The Scotsman Article at:
[ https://www.scotsman.com/business/benny-higgins-former-tesco-bank-boss-joins-fast-growing-accountancy-firm-wbg-as-new-chairman-5250817 ]