27 new faces at the Development Bank of Wales

Nicola Crocker and Simon Nichols

The Development Bank of Wales has welcomed 27 new starters to its 221 strong team, ten of which have been appointed to new roles created to help meet growing demand from Welsh businesses for finance.

The ten new roles span the new investment, portfolio and finance teams and include the appointment of Simon Nichols who has joined the new investment team as a deputy fund manager. With over 20 years-experience of managing equity and debt deals, he was previously a partner in KPMG’s deal advisory group, leading their work on global and domestic acquisitions, disposals and capital markets transactions.

Simon said: “I’m really excited to have joined the Development Bank and a team that is right at the heart of providing bespoke funding solutions to help Welsh businesses grow and fulfil their potential.  I look forward to leveraging my equity deal experience to ensure businesses consider equity finance and the considerable benefits it can bring – whether that is providing seed finance for start-ups, supercharging growth for established businesses or supporting management buy-outs.”

Four of the recruits are recent graduates who have joined the Development Bank in 2021 as part of the Welsh Financial Services Graduate Programme. Running since 2013, the programme offers a fully funded MSc alongside highly valuable work placements with a network of leading global employers including the Development Bank.

In addition to the new recruits, a further five staff have been promoted since January 2021. This includes Nicola Crocker who first joined the Development Bank in 2017 as a property development executive and has now been promoted to property fund manager responsible for the £157 million of property funds held by the Development Bank. She said: “After four years with the Development Bank, I know just how passionate our team is about working with the Welsh Government to develop innovative funding solutions that support the property market in Wales. I’m really excited to be leading our property team and looking forward to continuing to support developers with flexible and tailored finance packages, helping to create much needed housing and commercial space across Wales.”

Chief Executive of the Development Bank Giles Thorley said: “At the heart of our success is our people. Like the businesses we work with, we see our employees as long term investments so it is always rewarding to see well-deserved promotions as colleagues progress. We’re also delighted to have welcomed 27 new colleagues to the team this year, all of whom share our commitment to making it easier for businesses to get the finance they need to start up, strengthen and grow.”