Rhian Elston

Rhian Elston is Chief Investment Officer for the Development Bank of Wales Group, with responsibility for fund management activities across both the Development Bank of Wales and FW Capital. FW Capital is the regulated entity for the group investing in England and Wales. Rhian has CEO responsibility for this company.

She leads teams that work closely with businesses to provide the finance they need to start, strengthen and grow, supporting a broad range of funding requirements, sectors and investment sizes. She also oversees portfolio management activities, ensuring customers receive ongoing support throughout their investment journey.

As a member of the Executive Team, Rhian plays a key role in shaping the strategic direction of the Group and serves on the Investment Committee. Her focus is on ensuring that businesses across Wales and the wider UK can access the finance required to invest, innovate and create long-term economic value. This includes oversight of the funds delivered by both the Development Bank of Wales and FW Capital.

Rhian first joined us in 2003 as an Investment Executive and has progressed through a range of senior leadership roles. During more than two decades with the organisation, she has developed extensive experience in fund raising and fund management, structuring investments, managing portfolios and leading investment teams across multiple sectors.Rhian is ACIB accredited and previously worked in scientific research.