Development Bank of Wales strengthens Board with high-profile finance appointments
Development Bank of Wales strengthens Board with high-profile finance appointments
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The Development Bank of Wales has appointed two leading UK finance specialists, Annie Ropar and Paul Oldham, as Non-Executive Directors, further strengthening its board at a time of significant growth.
Annie Ropar is currently Executive Director and Chief Financial Officer of the National Wealth Fund. She was previously one of the first employees of the Canada Infrastructure Bank, where she served as its inaugural CFO and Chief Administrative Officer. Her earlier career includes senior roles at Aequitas NEO Exchange (now CBOE Canada) and almost a decade at Royal Bank of Canada’s Capital Markets division, spanning finance, private equity and institutional equity trading.
Paul Oldham is a Portfolio Director and Investment Committee member at BGF, the UK’s largest growth capital investor. Since joining in 2011, he has led the firm’s operations in Bristol, Cardiff and Reading. Paul brings more than 30 years’ experience in private equity and corporate finance, having previously held senior investment roles with 3i and LDC, and served as a Partner at Grant Thornton where he led the corporate finance advisory team for South West and South Wales.
Honorary Group Captain Sally Bridgeland, Chair of the Development Bank of Wales, welcomed the appointments, saying: “I’m delighted to welcome Annie and Paul as Board members at this exciting time for the Development Bank of Wales. With over £2 billion in funds under management and a portfolio of more than 3,600 businesses, our influence is growing and reaching deeper into communities across Wales.
“The Development Bank has become a vital link between institutional investors and local enterprises—bridging the gap and unlocking opportunities for partnership between the public and private sectors. Collaboration is the cornerstone of sustainable growth, and with these new appointments, we are further strengthening our position as a trusted partner to Welsh businesses, investors and communities.”
Paul Oldham said the Development Bank plays a crucial role in Wales’ economy. He said: “The Development Bank is widely respected as the leading provider of sustainable and effective finance for Welsh businesses. The business model ensures Welsh taxpayer funds are treated responsibly without compromising ambition, while early-stage support for high-potential ventures is preparing companies like Coincover and Space Forge to compete on the global stage.
“I’m looking forward to what I am sure will be a deeply rewarding opportunity to help shape the future of SMEs across Wales by guiding funding decisions that enable startups, scale-ups, and communities to thrive.”
Annie Ropar added: “The Development Bank of Wales is a catalyst for local innovation, job creation, and economic balance. With a focus on sustainable economic growth, we have the potential to transform regions by unlocking talent, building ecosystems, and levelling up opportunity where it’s needed most.
“I saw the difference this approach made in Canada during my time with the Canada Infrastructure Bank and it is now also at the heart of the work we’re doing at the National Wealth Fund. I’m excited about bringing this experience to Wales and helping maximise the impact of private investment alongside public finance.”
The Development Bank of Wales, owned by the Welsh Government, has invested £959 million in SMEs and property developers since its launch in 2017. In 2024/25 alone, £152 million in debt and equity funding supported 502 businesses, creating and safeguarding over 6,100 jobs.
With £2 billion now under management and a customer portfolio exceeding 3,600 small businesses, the bank continues to play a pivotal role in driving growth, innovation and sustainability across Wales.
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