DEVELOPMENT BANK FOR WALES ADVISORY PANEL

-


The independent panel appointed to explore the feasibility of a development bank for Wales held its inaugural meeting on Monday (2nd June 2014) chaired by Professor Dylan Jones-Evans.

The creation of a development bank  was one of the key recommendations from the task and finish group set up by Economy Minister Edwina Hart to  review access to finance for SMEs in Wales.

The report called for a review by the Welsh Government into the feasibility of this approach.

The Minister, who met panel members after their first meeting, said: “The Welsh Government is committed to supporting business growth and access to finance is an essential element to ensure SMEs can reach their full potential and help create jobs and wealth.

“This feasibility study is therefore an important piece of work that will explore the concept of a development bank in more depth. I am grateful that Professor Jones-Evans has agreed to lead this review and delighted he is being supported by such a high quality panel of experts.

“The panel will explore the potential mission, role and operations that a development bank could undertake and will examine the legal and state aid framework required to establish and operate such an organisation.  They will also investigate the necessary skills and associated costs and the relative risks and rewards.”

Professor Jones-Evans said:”Recent data from the Bank of England suggests that small firms are still struggling to get access to finance that will be critical in delivering growth and jobs for the economy. 

"One of the potential solutions to this problem here in Wales is the creation of a development bank that will utilise the various types of funding available to the Welsh Government and work closely with the private sector in delivering financial solutions for Welsh businesses. 

"This is not about minor changes to who delivers what in Wales but a once in a lifetime opportunity to build the best financial support system for SMEs in the UK that would be the envy of the rest of Europe. In doing so, we would place SMEs and their needs at its heart to ensure they get the financial and business support they require to help grow the Welsh economy."

"I look forward to utilising the experience and expertise of the excellent panel that has been appointed to examine this issue in depth over the next few months and develop a business case that the Welsh Government can then consider."

The following have been appointed to the Development Bank for Wales Panel

Katy Chamberlain is chief executive of Business in Focus. She was previously the chief executive of Chwarae Teg and a director of the accountancy firm KPMG.

Patrick Crawford is the chief executive of the Charity Bank, an organisation that provides secured loans to charities, community organisations and social enterprises across the UK. He previously headed up UK Export Finance (Export Credits Guarantee Department) for the UK Government and served on the boards of Crossrail and UKTI. 

Nelson Gray is an investor, mentor and non-executive director of LINC Scotland, the Scottish Angel Capital Association. He has worked with many high growth companies in a range of sectors and was European Business Angel of the Year in 2008.

Rob Hunter is Finance Director in the Department of Economy, Science and Transport within the Welsh Government.

Juliet Luporini runs a successful business in Swansea and is currently the chair of the Swansea Business Improvement District. She has served on the Williams Panel that examined the governance and delivery of public services in Wales and the Business Rate Task and Finish group.

Roger Maggs is the joint founder of Celtic House, a leading Canadian venture fund specialising in technology start-ups. He has held directorships on more than 30 public and private boards and is currently a board member of three public companies in North America. 

Chris Nott is managing partner of Capital Law LLP, a commercial law firm working across the UK and in Europe. He chairs the Financial and Professional Services advisory panel for the Welsh Government. 

Richard Pepler is Corporate Director with Henry Howard Finance Plc. He has considerable experience of the factoring and invoice-discounting sector, having been chief executive of the Ultimate Finance Group PLC and the Interface Financial Group.

Tim Pezzack is Divisional Managing Director for the Midlands and Wales for Santander Bank. He was previously UK Head of Key Markets for Lloyds TSB with responsibility for over £8.2 billion of lending.

Mark Rhydderch-Roberts is a specialist in investment banking and equity finance. He has held senior executive positions in global banks such as Societe Generale Investment Bank, Bear Stearns International and Fox-Pitt Kelton.

Seth Thomas was previously a director for Citi specialising in public sector banking and public policy issues. His work for bodies such as the UK Government has included examining options for the creation of a regional development bank.

Popular posts from this blog

THE IMPORTANCE OF FRANCHISING

-
Image
When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is
Read more

THE IMPORTANT IMPACT OF STARTUPS ON THE WELSH ECONOMY

-
Image
Earlier this week, in association with Wales Week London , we launched the sixth Wales Start-Up Awards which celebrates the success of the best new Welsh businesses every year. It was a pleasure to interview a number of the award winners that are making a real stamp on their industries and markets.  These included Project Blu , overall winner in 2020 which has signed a major multi-million pound deal to sell their environmentally friendly dog products in the USA; Yoello , the Cardiff-based payments specialist which had to pivot during the pandemic but has completed a major funding round to expand their operations substantially; t he Goodwash Company , whose innovative approach to their business is putting them on the path to becoming a major UK brand in the next couple of years; and the Enbarr Foundation which is rewriting the textbook on community entrepreneurship through its efforts in Deeside. Despite all the challenges of the last 12 months, these amazing founders had not only survi
Read more

UNIVERSITIES NEED TO BE AT THE HEART OF THE ECONOMIC RENAISSANCE OF THE WELSH ECONOMY

-
Image
With the majority of us still working from home during a dark and cold January, it may difficult to envisage that in less than one hundred days and barring any postponement from Cardiff Bay, we will be voting in the elections for the Welsh Senedd. As the political parties start to formulate their manifestos, various organisations, pressure groups and other bodies are putting together a list of their priorities that the next Welsh Government will hopefully enact as part of their programme. One of the most important of these submissions has come from the Welsh university sector that, during the last five years, has been responsible for developing world class research and innovation, delivered skills to people of all ages and backgrounds, and made a significant contribution to the economic and societal wellbeing of Wales. As the nation looks to recover from the challenges that we have all faced as a result of the Covid-19 pandemic, higher education institutions are aiming to continue thi
Read more