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18th Sep 2018
The Student Loans Company has fired its chief executive Steve Lamey, after a long-running investigation into his conduct.
A senior official from the Department for Education will initiate an internal shakeup of the business, which may include moving the company's headquarters from its current location in Glasgow.
The Student Loans Company (SLC) announced this week that Mr Lamey's contract had been terminated.
He was in the role for just over 12 months and was suspended earlier in the year whilst an investigation into his conduct was being undertaken.
Commenting on the termination, the SLC said: "Following investigations into allegations about aspects of his management and leadership, the SLC has decided to terminate Steve Lamey's contract as chief executive officer of the Student Loans Company (SLC).
"The SLC and its shareholders expect the highest standards of management and leadership and these were not upheld by Mr Lamey during his time in this role."
The chief executive of the Education and Skills Funding Agency and the Institute for Apprenticeship, Peter Lauener, will take over this month as the SLC's interim chief executive. A permanent chief executive is expected to be appointed early next year.
Mr Lamey is the third chief executive to leave under less than ideal circumstances. In 2010 Ralph Seymour-Jackson resigned after the SLC failed to make payments to thousands of students and in 2014 Ed Lester left after it was uncovered he had be paid through a private company.
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