Board changes unveiled at Edinburgh investment syndicate Archangels

0 Geoff Ball was the boss of builder Cala for many years Archangels, the investment syndicate, has unveiled a board change that sees the departure of former Cala chief executive Geoff Ball.

Ian Macleod has joined the board of the Edinburgh-based group, succeeding Ball, who has retired after seven years.

Archangels’ members invest in, and mentor, start-up and early stage companies from Scotland’s technology and life sciences sectors.

Macleod had a long career as a financial analyst, specialising in electronics and telecoms, initially with Capel Cure Myers and subsequently with decade-long spells at Natwest Markets and Jefferies.

During most of this period he was based in Paris and was recognised for several years as one of the top European telecoms analysts.

Ball was chief executive of housebuilder Cala from 1974 until his retirement from the role in 2009, having led the management buyout and subsequent sale of the business. He was also on the boards of Standard Life and the Scottish Mortgage Investment Trust and was chairman of Mccarthy & Stone. He joined the Archangels board in 2011.

Eric Young, chairman of Archangels, said: “There is no doubt that Geoff ’s counsel will be missed by the Archangels board and I would like to put on record our sincere thanks to him for his significant contribution to the organisation over the past seven years.

“In Ian, we have a worthy successor and I am confident that his experience and insight, specifically in the tech and energy sectors, will prove to be a great asset for Archangels.”

Formed in 1992, the syndicate comprises some 80 investor members and leads investment of about £10 million per year in early stage Scottish firms, including leverage from partners, the largest being the Scottish Investment Bank.