The Development Bank of Wales has confirmed Sally Bridgeland as its new chair.
Ms Bridgeland, who will take up her the role in September when Gareth Bullock completes his nine-year term as chair of the Welsh Government-owned development bank, holds a number of non-executive roles, including chair at Impax Asset Management Group plc and BelleVie Care, deputy chair of the Brunel Pension Partnership and non-executive director at insurers Pension Insurance Corporation and Royal & Sun Alliance.
During her recent career her roles included chief executive of the BP pension scheme, non-executive director at Royal London, and trustee and investment committee chair at the Nuclear Liabilities Fund, NEST Corporation and the Lloyds Bank pension schemes. She was chair of the first local government pensions pool, Local Pensions Partnership Investments Limited, from 2015 to 2023.
Having graduated with first class degree in mathematics from Imperial College she began her career with consultancy Bacon & Woodrow as an actuary.
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Ms Bridgeland said: “The development bank is a unique resource for Wales; promoting innovation, increasing prosperity, and supporting the transition to a sustainable economy. It’s a development bank with a clear purpose and an excellent reputation for doing the right thing. I am looking forward to working with the board and wider team to maintain delivery excellence and support the long-term sustainability of the Welsh economy for the benefit of the people of Wales.”
Cabinet Secretary for Economy Energy and Welsh Language, Jeremy Miles, said: “I would like to welcome the announcement that Sally Bridgeland will be taking on the role of xhair at the Development Bank of Wales. She will join at a dynamic time, bringing a vast wealth of experience and unrivalled knowledge. I look forward to working with Sally on her appointment in September to continue to strengthen and grow the bank’s portfolio and build on the fantastic work which has already taken place over the past seven years.
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“Sally will replace Gareth Bullock the current chair from September with the intervening period used to support an effective transition.”
Former Standard Chartered executive Mr Bullock said: “I am proud of all that we have achieved during the first seven years of the development bank. It has been a challenging period for Welsh businesses, but we have developed a reputation with customers and our wider network as a credible, trusted, and valued source of business funding.
“We have also made important strides as a responsible investor, increasing the supply of debt and equity finance with a social impact while promoting and advancing a greener future. I am sure that Sally will be welcomed by all at the Development Bank and given the support that she needs to help make Wales an attractive place to live, work and invest.”
Mr Bridgeland is also a member of the Royal Society’ advisory committee on mathematics education and chair of the strategic advisory board for the Centre for Mathematical Cognition at Loughborough University.