Mackay, who has held the finance brief for the last two years, saw his role expanded to include economy and fair work in a shake-up of Nicola Sturgeon’s senior team.
To support Mackay, former accountant Kate Forbes [pictured right] has taken on a new post as minister for public finance and the digital economy.
Another new ministerial position was created for Ivan McKee, whose portfolio spans trade, investment and innovation.
There is also an expanded role for Jamie Hepburn as minister for business, fair work and skills.
Elsewhere in the cabinet, Aileen Campbell has become cabinet secretary for communities and local government, leading the Scottish Government’s work to tackle poverty and inequality and taking forward plans to reform local governance.
Kevin Stewart remains in post as minister for housing, local government and planning.
Sturgeon’s beleaguered health secretary Shona Robison handed in her notice ahead of the reshuffle, citing challenges in her personal life, and was replaced by Jeane Freeman, who has become secretary for health and sport.
Shirley-Anne Somerville has been appointed as a dedicated cabinet secretary for social security and older people, with responsibility for overseeing operational delivery of the first devolved social security payments.
Announcing her new expanded cabinet, Sturgeon said the fresh talent she was bringing on board ensured the government was ready to face the challenges and opportunities of the coming months.
“Those appointments, together with the reshaped portfolios announced today, mean that people can have confidence that the Scottish Government will continue to deliver for people, public services and communities the length and breadth of the country,” she said.
“The ministerial team represents constituencies the length and breadth of Scotland, coming with a range of professional backgrounds and bringing a breadth of real life experience to their roles.”
