Monday, March 1, 2010

News: Finance Yorkshire names team


Finance Yorkshire has appointed its board of directors, with Master Cutler, James Newman named as the company's chairman.

Finance Yorkshire is a £90m regional venture and capital loan fund that is due to be launched by Yorkshire Forward in March 2010 and will invest in businesses across the Yorkshire and Humber region to support their growth and development. It is set to complete a four-year investment phase by December 2013.

The Fund will build on the success of the Partnership Investment Fund (PIF) and South Yorkshire Investment Fund (SYIF), which have now completed their investment phases. It will provide cross-regional access to finance support for the first time, on equal terms, for all qualifying businesses.

Mr Newman already has a portfolio of non-executive directorships, including with international consultancy Scott Wilson Group plc and Dignity plc, the UK's largest independent provider of funeral services.

He is also chairman of other northern based public companies listed on AIM, Brulines, Straight and Infoserve as well as being deputy chairman of the Governors at Sheffield Hallam University. Until December 2009, Mr Newman was also deputy chairman of PIF and chairman of its Investment Advisory Panel.

In October 2009, he became the 385th Master Cutler of the Cutlers Company in Hallamshire, which represents all manufacturing industry in the South Yorkshire region.

Finance Yorkshire has announced the other key figures to make up the organisation's board.

It includes Dr Ian Kelly, chief executive of the Hull and Humber Chamber of Commerce, Peter Myers, chief executive of West Yorkshire Tourism, Alex McWhirter, assistant director of business at Yorkshire Forward, David Bagley a long established member of the corporate finance community in Leeds and Jennie Adams, a former stockbroker from Scarborough.

In addition, Tony Parsons joins Finance Yorkshire from SYIF, while John Watson OBE, also becomes part of the board, as well as being chairman of PIF.

Mr Newman, Chairman of Finance Yorkshire, said: "Besides providing direct support to businesses and a boost to the regional economic development, the new Fund will generate a significant legacy from returns to support future sustainability.

"We see the Fund helping to establish many new businesses and create and safeguard thousands of jobs for the region. We will be working pro-actively with the region's financial intermediaries to ensure that businesses receive the appropriate financial backing and other organisations in the region, who provide complementary services to the small business community."

Finance Yorkshire website



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