Remembering Jim Wallace, Baron Wallace of Tankerness

ICAS was saddened to learn of the death of Lord Jim Wallace, PC, KC FRSE, who served as Chair of the ICAS Regulation Board and as a Public Interest Member from 2018 to 2021.

Jim served during a time of major change in the regulatory environment and provided clear, practical counsel on reforms relating to audit, insolvency and anti-money laundering. His oversight helped guide ICAS through complex and developing issues.

His leadership was especially important during the first year of the Covid-19 pandemic. At a time of real uncertainty, Jim offered valuable support to everyone at ICAS, helping us maintain our regulatory functions during challenging circumstances.

He was generous with his time always and took his responsibilities incredibly seriously. He will be remembered for the important role he played in supporting ICAS through some very difficult periods.

Jim was also a huge public figure in Scotland and beyond. He served as an MP in Westminster. He played a key role in the Scottish Constitutional Convention, which led to the creation of the Scottish Parliament. He later became an MSP and served as both few Deputy and Acting First Minister of Scotland during the first eight years of the Parliament in the Labour-Liberal Democrat coalition. After retiring to the House of Lords, he returned to ministerial duties as Lord Advocate for Scotland during David Cameron’s time as Prime Minister.

He remained a friend and supporter of ICAS.

We are grateful for Jim’s service and extend our sincere condolences to his family and those close to him.

 

Portrait: © House of Lords / photography by Roger Harris