Jack Shaw (accountant)

Sir John Calman Shaw
Born	John Calman Shaw (1932-07-10) 10 July 1932 Perth, Scotland
Died	5 April 2021(2021-04-05) (aged 88) Edinburgh, Scotland
Occupation(s)	Business leader, accountant, academic
Years active	1960–2001
Known for	Governor of the Bank of Scotland (1999–2001), chairman and deputy governor roles at Bank of Scotland, president of Institute of Chartered Accountants of Scotland, Johnstone Smith Professor of Accountancy at University of Glasgow

Sir John Calman Shaw CBE, FRSE (10 July 1932 – 5 April 2021) was a distinguished Scottish business leader who held the positions of chairman and Governor of the Bank of Scotland from 1999 until 2001. Prior to that, he served as deputy governor between 1991 and 1999 and was a non-executive director from 1990 to 2001.

Education

Originating from Perth, Shaw attended Perth Academy followed by Strathallan School. He undertook an apprenticeship with Edinburgh-based accountants Graham, Smart & Annan (GSA) before earning a law degree from the University of Edinburgh in 1953. The following year, he qualified as a chartered accountant. Between 1954 and 1956, Shaw fulfilled his National Service as a pilot officer in Fighter Control with the Royal Air Force stationed in Germany. Acting on GSA’s recommendation, he spent two years at Thomson McLintock & Company in London, where he broadened his professional experience beyond Edinburgh and achieved membership in the Chartered Institute of Management Accountants.

Career

In 1960, Shaw returned to Edinburgh to become a junior partner at GSA. His work involved prominent audits such as overseeing the acquisition of Crawford's by McVitie & Price, which led to the creation of United Biscuits, alongside engagements for the White Fish Authority. He played a key role in establishing the Scottish Computer Education and Applied Research Centre (SCEARC), aimed at integrating computing technologies into financial management practices.

The 1973 merger of GSA with Deloitte, Plender, Griffiths & Co expanded Deloitte’s footprint across the UK. Shaw balanced his professional commitments with part-time lecturing roles at Heriot-Watt University and the University of Edinburgh before accepting the Johnstone Smith Professorship of Accountancy at the University of Glasgow from 1977 to 1983. He became Deloitte Edinburgh’s local senior partner in 1980 and was appointed president of the Institute of Chartered Accountants of Scotland in 1983. In 1986, Shaw left Deloitte to become Scottish Financial Enterprise’s inaugural executive director, championing Scotland’s financial services industry by collaborating with banks, insurers, and fund managers.

Shaw joined the Bank of Scotland board as a non-executive director in 1990 and advanced to deputy governor in 1991. During his tenure, he managed significant shareholder realignments, including reducing Standard Life’s substantial one-third stake in 1996. Between 1995 and 1999, he resumed leadership as chairman of Scottish Financial Enterprise. Appointed Governor towards the end of 1999, Shaw navigated an unsuccessful bid to acquire National Westminster Bank and spearheaded negotiations that resulted in the £30 billion merger with Halifax in May 2001.

This merger gave rise to HBOS, headquartered jointly in Edinburgh and Halifax. Shaw resigned later that year, with Sir Peter Burt succeeding him.

Other Appointments

Throughout his career, Shaw occupied numerous prominent positions such as director roles at both the Scottish American Investment Company and Scottish Mortgage and Trust PLC from 1982 until 2001. He contributed to governance bodies including the Universities Funding Council for Great Britain and the Higher Education Funding Council for England. Within his tenure at Bank of Scotland, he chaired Scottish Financial Enterprise (1995–1999), the Scottish Funding Council (1992–1998), Scottish American Investment Company (1991–2001), US Smaller Companies Investment Trust (1991–1999), TR European Growth Trust PLC (1998–2002), Scottish Science Trust (1998–2002), Edinburgh Technology Fund (1999–2001), David Hume Institute (1995–2002), and led the Advanced Management Programme in Scotland (1995–2005). Additionally, he served as deputy chairman for the Edinburgh International Festival Society between 1990 and 2000.

His portfolio also included directorships at Scottish Metropolitan Property PLC (1994–2000), Templeton Emerging Markets Investment Trust PLC (1994–2003), and involvement with the Scottish Chamber Orchestra. Shaw held board memberships at Scottish Enterprise from 1990 to 1998 and the Financial Reporting Council between 1990 and 1996. He was part of the Scottish Economic Council during 1996–1998, served on the University Court at the University of Edinburgh from 1998 to 2003, and acted as Receiver General for the Priory of Scotland Order of St John of Jerusalem between 1992 and 2002.

Death

Following his retirement in Dunkeld, Perthshire, Shaw experienced a decline in health, which led to his relocation back to Edinburgh where he spent his remaining years under care. He passed away on 5 April 2021.

Bibliography

Shaw was the author of three books and contributed extensively to professional periodicals including The Accountant, Accountancy, and Accounting and Business Research. His significant works comprise:

• Bogie on Group Accounts, 3rd edition (1973)
• The Audit Report: what it says and what it means (1980)
• Information Disclosure and the Multinational Corporation (1984)

Honours

• Commander of the Order of the British Empire, awarded in 1989
• Knighted as a Bachelor in 1994
• Fellow of the Royal Society of Edinburgh
• Received honorary doctorates from the University of Edinburgh, University of Glasgow, University of Abertay Dundee, University of St Andrews, and Napier University during 1998–1999