Ms Gregor was previously chief executive of HSBC in Scotland.

The Herald reports that she was previously a non-executive director fo the Scottish Apprenticeship Advisory Board and is a board advisor to Glasgow University Adam Smith Business School.

Current chair of Malcolm Group, George Mitchell, who was also previously governor and treasurer of the Bank of Scotland, has decided to step down during the course of 2020.

Andrew Malcolm, group chief executive, said: “I am delighted that Alison is coming on board and am sure that she will provide excellent insight and counsel to the company.

“I’m very grateful to George for agreeing to stay on for a period of time and would like to place on record the company’s sincere thanks to him for his superb stewardship of the board and sterling contribution to the business over the last 14 years.”