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Finance Wales Group appoints Gareth Bullock as new Chairman

Gareth Bullock has been appointed Chairman of the Finance Wales Group and will take up the role from 1st October.

He replaces Ian Johnson who steps down as Chairman on 30th September.

Mr Bullock has a strong track record and a wealth of experience gained from a   distinguished 30-year international banking career. 

He joins the Group at a pivotal time for the future of SME investment in Wales as plans for a fund to succeed the Wales JEREMIE Fund are being put in place and the recommendations of the Development Bank for Wales feasibility study and Robert Lloyd Griffiths’ review into aligning business support and finance are implemented.

Mr Bullock retired from the Board of Standard Chartered PLC in 2010 and currently holds Non-executive Directorships or senior advisory roles with Informa PLC, Tesco Bank, Good Governance Group (G3), Global Market Group Ltd as well as the British Council.

Commenting on his appointment Gareth Bullock said: “Finance Wales has had a significant impact on the Welsh economy under Ian Johnson’s chairmanship and the last financial year was a record year.  I’m pleased to take the helm at such an important time and look forward to building on Finance Wales’ strengths and increasing its contribution to the Welsh economy.

“I’m looking forward to working with Welsh SMEs, Finance Wales’ board, its experienced management team and a wide range of stakeholders to continue building a vibrant SME sector in Wales.”

Welcoming Mr Bullock’s appointment Minister for Economy, Science and Transport Edwina Hart said: “I welcome Gareth Bullock’s appointment as the new chair of Finance Wales during this crucial time for the organisation. His prestigious track record in the banking and finance sector means he brings a wealth of experience to support Finance Wales as it builds on its performance to date and takes forward the recommendations of the Access to Finance Review.

“I would also like to thank Ian Johnson for his leadership in helping steer Finance Wales through one of the most turbulent times in economic history, providing investment for SMEs in Wales at a time when the private sector was withdrawing its support from these businesses.”

Outgoing Chairman Ian Johnson said: “I’m pleased to have played a role in helping Finance Wales become the highly regarded Welsh financial institution it is today.  The organisation has built up considerable expertise in SME investment over the last 15 years and I’m confident that with Gareth’s high-calibre leadership, Finance Wales will rise to the challenges and opportunities that lie ahead. I wish him, the board, management team and staff of Finance Wales well in future.”

Married with 3 sons, Mr Bullock was educated at St. Catharine’s College, Cambridge and has an M.A. in Modern Languages. He has also studied in France.