The Development Bank of Wales has appointed two entrepreneurs to its board as non-executive directors.
Kate Methuen-Ley founder and director of award-winning Tiger Cardiff joins the development bank along with Rob Lamb a digital entrepreneur and investment specialist.
As a graduate of Swansea University and Cardiff Business School, Ms Methuen-Ley built Tiger Cardiff to nine stores with a turnover of £5.3m prior to her exit in 2018.
She is now a non-executive director of Loopster.co.uk, mentor with the tech incubator Alacrity Foundation, as well as providing strategic advice to a number of companies.
Ms Methuen-Ley said: “The Development Bank of Wales is a unique resource for Wales; helping Welsh businesses create or safeguard jobs, be more innovative and increase their contribution to the economy.
“As an entrepreneur, I have first-hand experience of the value of the start-up ecosystem in Wales and am keen to contribute to this; helping others to fulfil their dreams and reach their full potential.”
A Welsh speaker, and graduate of Cardiff University, Rob Lamb is the co-founder and director of Hedgehog, a digital platform that has the mission to democratise investing in property by making fractional ownership available to everyone.
He is also a non-executive director of the social impact investment consultancy Expectation State and FairPlay Trading, the commercial arm of Wales’ gender equality charity Chwarae Teg.
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Mr Lamb said: “The provision of sustainable, effective finance in the market is key to unlocking the potential of the Welsh economy.
“As an investor and a business owner, I understand what help businesses need to thrive and look forward to working with the Board of the Development Bank to deliver this.”
Gareth Bullock, chair of the Development Bank of Wales said: “We welcome Kate and Rob to the Development Bank of Wales board.
“All our non-executive directors provide independent and creative contribution to the Board, providing strategic direction and oversight.
“That’s why it is so important to have a diverse board with a mix of skills.
“Having started and run businesses, both Kate and Rob understand what it takes to grow a successful business in Wales.
“Their contribution will be very valuable as we focus on supporting the recovery of the Welsh economy and building the organisation’s long-term infrastructure.”
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The bank is wholly-owned by the Welsh Government.
It wouldn't disclose the remuneration of its board members, but said payments are in line with other comparable public sector appointments.
Board members are committed to 24 days of work a year, which includes six board meetings, as well as other committee meetings and events.
Outside of remote working restrictions imposed by the Covid 19 pandemic, half of its board meetings are held at its headquarters in Wrexham and the rest at its Cardiff office.
Once a year a board meeting is held at a different venue in Wales.