TRIBUTES have flooded in for a Greenock finance expert who headed up one of the country s top investment firms. James (Jim) Galbraith, who was born and grew up in the town, rose through the ranks to become Scottish Friendly s chief executive. He died suddenly last month at the age of 58, leaving family, friends and colleagues devastated. Much-respected Jim had guided the financial institution through the Covid-19 pandemic. In over 30 years with Scottish Friendly he helped transform the company into the largest mutual insurer in Scotland, with £5.3 billion worth of investments. Former Greenock Academy pupil Jim is remembered by loved ones as kind, gentle and incredibly bright, a man who could make people cry with laughter, while also generating huge respect and love from his 200-strong workforce.
It is very easy to fall into debt and extremely hard to get out of.
The good news is that a government scheme to help people with debt and all the associated issues starts next week.
Officially called the Debt Respite Scheme, the programme has been welcomed by one of the UK’s leading debt charities, who hope the scheme may benefit up to 700,000 people per year.
Advisers are set to play a major role in the scheme, as people will only be eligible after seeking professional debt advice.
Quote Of The Day
These proposals demonstrate that the UK is no longer constrained by European policy making. The consultation paper, which is the first of three, cements the FCA’s desire to bring about change to the areas of Mifid II that are not working as intended or those that simply do not bring value to the UK by supporting its growth and competitiveness.
Scottish Friendly acting chief executive Martin Pringle SCOTTISH Friendly grew sales by around 10 per cent last year amid challenging market conditions. The Glasgow-based savings and investments firm, which is one of a dwindling band of member-owned mutuals, recorded total sales of £42m on the standard industry measure, up from £37.8m in the preceding year. The company highlighted a 13% increase in sales of its own-brand investment ISAs, to a record £15m. This was achieved during a year in which the fallout from the coronavirus triggered market volatility. Scottish Friendly said its member numbers also reached a record high of 745,000 in 2020, up from 712,000 in the preceding year. The business now administers more than one million policies.
Scottish Friendly CEO Jim Galbraith dies
30 years at the firm
He had devoted the best part of his career to strengthening, guiding and driving forward Scottish Friendly.
Galbraith
(pictured) was at the company for more than 30 years and, in that time, the firm said, his passion for its mutual life office had shown no end.
According to the business, Galbraith devoted the best part of his career to strengthening, guiding and driving forward Scottish Friendly. On winning IoD Scotland director of the year, he said that he looked forward to stewarding Scottish Friendly to the next generational change .
Related articles
He had been at the firm for over 30 years
The chief executive of mutual life insurer Scottish Friendly has died.
Jim Galbraith started his career in 1984 as an actuarial assistant at Scottish Life, then moved to Scottish Life Assurance in 1986, and two years later joined Scottish Friendly where he stayed for 33 years.
Following Galbraith’s passing, Martin Pringle will become acting chief executive.
Neil Lovatt, commercial director of Scottish Friendly, said: “Jim was my friend, and a great friend to so many in Scottish Friendly. We were lucky to have him in our life office. He believed fundamentally in the mutual ethos of Scottish Friendly and had a keen sense of its heritage and historic mission.