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20/11/2014

Dr Carol Bell joins the board of Finance Wales

Dr Carol Bell has been appointed as a Non-Executive Director of Finance Wales. She joins the company’s board which is chaired by Ian Johnson.

Her appointment comes in a year that has seen Finance Wales exceed its half-year investment target and also expand its range of investment funds with the launch of the Welsh Government-backed £20 million Wales Capital Growth and £7.5 million Wales Technology Seed Funds.

Carol started her career in the oil and gas industry before moving into banking where she held senior posts at Credit Suisse First Boston, JP Morgan and Chase Manhattan Bank.  She is currently a member of the governing authority of Welsh language broadcaster, S4C and also a board member of a number of companies and organisations.  Since completing her doctorate in 2005 Carol has developed a range of business and charitable interests.

Commenting on her appointment, Carol Bell said: "The Welsh Government Funds managed by Finance Wales have made significant contribution to the development of a vibrant SME sector in Wales and I am delighted to join its board.  I look forward to Finance Wales becoming an even stronger financial institution by building on this work, which creates high quality jobs and puts Wales on the map as a centre of innovation."

Ian Johnson, Finance Wales’ Chairman is pleased to welcome Dr Bell to the board: “Our investments were at record levels in 2013-14 and they’re ahead of target in Wales in the first half of this financial year.  Welsh SMEs are increasingly ambitious for success and the board is committed to ensuring Finance Wales continues to back them effectively.

“Carol is an experienced industrialist and financier whose appointment will significantly strengthen Finance Wales’ board.  Her expertise, pragmatism and strategic perspective will help us shape Finance Wales’ long-term future, ensuring that we continue to help Welsh businesses create and safeguard jobs.”

By the end of September 2014, Welsh SMEs have benefitted from £353 million of investment from Finance Wales.  These investments have also leveraged additional investment totalling £510 million, taking its total impact on the Welsh economy to £863 million.  With Finance Wales’ backing, Welsh SMEs have created or safeguarded 39,085 jobs in Wales.