Finance Yorkshire appoints new board chair

Finance Yorkshire has appointed Nigel Ward as its new chair.

Ward succeeds James Newman OBE who has been chair of Finance Yorkshire since its creation in 2009. Ward joined Finance Yorkshire as a non-executive director in 2021. He was a partner at PWC and spent more than 30 years advising companies across a range of industry sectors.

Ward will oversee investment from Finance Yorkshire’s new fund which is expected to provide more than £50m to SMEs across Yorkshire and Humber over five years. This fund was created using the legacy from Finance Yorkshire’s previous investment support to regional businesses through its Jeremie Fund.

Newman was the founding chair of both the Sheffield City Region and Hull and East Riding LEPs and has held many other prestigious and influential roles nationally and in Yorkshire in the business, academic and charity sectors. He was Master Cutler in 2009 and was awarded an OBE for services to business, the economy and charity in Yorkshire in 2017.

During his time as chair of Finance Yorkshire, Newman oversaw the successful delivery of its original Jeremie Fund and an Extension Fund which saw £113 million invested in over 500 companies in Yorkshire and Humber.

The investments created and safeguarded more than 16,000 jobs, enabling businesses to increase their turnover by a total of £474m and attract a further £374m from private sector sources. Utilising the legacy from this fund, Newman negotiated the development of the new evergreen fund which will allow Finance Yorkshire to continue to invest in the region for many years to come.

Newman said: “I have very much enjoyed my time as Finance Yorkshire chair, overseeing the growth of the brand and delivery of investments which have made a real difference to individual businesses and the wider economic health of the Yorkshire and Humber region.

“It has been a privilege to lead such a committed board and I look forward to witnessing Finance Yorkshire’s continued success with Nigel at the helm.”

Ward said: “I am very pleased to be taking on the role of Finance Yorkshire chair. Finance Yorkshire has a formidable reputation for supporting the region’s SME community led by the board who will continue to steer the organisation as we deliver further investments for the benefit of businesses.”

Alex McWhirter, Chief Executive of Finance Yorkshire, said: “James has led the company since it was established in 2009 and has been pivotal in the successful delivery of our previous investment funds and its key objectives to deliver jobs and business growth across Yorkshire and Humber. His chairmanship has not only delivered a legacy we are proud of but the returns on our investments which are enabling us to continue to support SMEs.”

McWhirter added: “Since joining the board, Nigel has provided strong direction for Finance Yorkshire’s investment activities. I look forward to working with Nigel to ensure that Finance Yorkshire continues to invest in SMEs that will make a difference and deliver a positive benefit to the regional economy in the future