Development Bank for Wales chiefs to be in Wrexham ‘regularly’

Economy Secretary Ken Skates has said basing the new Development Bank of Wales in Wrexham will help spread prosperity, even if its chief executive will not be based there.

Giles Thorley was head of the Welsh Government’s Cardiff-based investment arm Finance Wales, which the new bank replaces.

Eventually employing 54 people compared to 120 at Finance Wales, it will have £440m to invest and offer £100m of borrowing over 10 years to help small businesses start and grow.

Mr Skates said the bank’s executives and board members would be in north Wales “more regularly” than those of Finance Wales had been.


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