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Top investment experts join Development Bank of Wales board

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TWO of the UK’s leading finance professionals have been appointed as Non-Executive Directors of the Development Bank of Wales.

Annie Ropar, Chief Financial Officer of the UK’s National Wealth Fund, and Paul Oldham, a senior figure at equity investment firm BGF, will now help guide the bank’s future strategy.

The announcement comes as the Development Bank continues to expand its reach, with more than £2 billion in funds under management and over 3,600 Welsh businesses in its investment portfolio.

Broad experience in public and private sectors

Annie Ropar was among the founding staff of the Canada Infrastructure Bank, where she served as its first CFO and Chief Administrative Officer. Her earlier roles included senior finance positions at Aequitas NEO Exchange Inc. (now CBOE Canada), and a nine-year stint in capital markets at RBC, covering corporate finance, private equity, and institutional equity trading.

Paul Oldham, who joined BGF in 2011, helped establish and lead the company’s offices in Bristol, Cardiff and Reading. His career spans 16 years in private equity with 3i and LDC, and six years as a Partner at Grant Thornton, where he led the corporate finance advisory team in the South West and South Wales. He qualified as a Chartered Accountant with KPMG.

Chair welcomes new appointments

The bank’s Chair, the Hon. Group Captain Sally Bridgeland, said: “I’m delighted to welcome Annie and Paul to the Board at such an exciting time for the Development Bank of Wales. With a growing influence across Welsh communities and a portfolio now exceeding £2 billion, our role has never been more important.

“We are a vital bridge between institutional investors and local enterprises, unlocking opportunities and driving public-private partnerships. Collaboration is at the heart of sustainable growth, and these appointments further strengthen our position as a trusted partner for businesses, investors, and communities.”

Supporting ambitious Welsh firms

Paul Oldham praised the bank’s reputation for delivering sustainable funding:
“The Development Bank is widely respected as the leading provider of effective finance for Welsh businesses. It uses taxpayer money responsibly, while enabling early-stage support for high-potential firms like Coincover and Space Forge to thrive globally.

“I look forward to helping shape funding decisions that support start-ups, expanding businesses and the communities they serve.”

Annie Ropar added: “The bank is a catalyst for local innovation, job creation, and regional economic balance. I saw the impact of this approach in Canada, and it’s now core to what we do at the UK’s National Wealth Fund.

“I’m excited to bring that experience to Wales and help increase the impact of private investment alongside public funding for the benefit of people across the country.”

Delivering for Wales

Owned by the Welsh Government, the Development Bank provides loans and equity to Welsh businesses, people, and communities. Since its creation in 2017, it has invested £959 million in SMEs and property developers, supporting wider government goals such as transitioning to a low-carbon economy and building new homes and commercial spaces.

In the 2024/25 financial year, £152 million in debt and equity was invested in 502 businesses, helping to create and safeguard 6,185 jobs across Wales.

 

Business

Oil firm praised for putting customers first during price surge

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A PEMBROKESHIRE heating oil supplier has been praised by a local customer after choosing to honour its original prices despite a sharp rise in fuel costs.

Sarah Maling contacted The Herald after receiving a delivery from J E Lawrence & Son Ltd, saying the company had prioritised fairness to customers during a period of intense demand.

The customer had ordered around 800 litres of heating oil on March 2 after her tank began running low. However, due to extremely high demand, the company was unable to deliver until Friday (Mar 13). Despite heating oil prices increasing rapidly since the order was placed, the firm honoured the original quoted price and delivered 500 litres instead, ensuring more households could receive some oil.

Sarah said the delivery driver arrived at her home at around 11:30am after already completing 27 deliveries that day.

She said: “Prices have gone insane since I ordered yet they stuck with the quoted price and delivered 500 litres and explained why in the letter.

“This is putting the customer before profit and making sure everyone who needs oil will hopefully get oil at a more affordable price.

“I just wanted it acknowledged that not all delivery companies are out to make a profit but care about their customers – the people of Pembrokeshire.”

The letter included with the delivery explained that distributors across the sector had cancelled existing orders as prices surged last week.

However, the company said it had chosen not to cancel earlier orders and instead decided to limit deliveries so that more customers would receive some fuel.

The letter stated: “We have experienced huge volumes of orders and deliveries are now taking two to three weeks.

“Most distributors cancelled existing orders when prices increased rapidly last week, and those customers had to go to the back of a very long queue with another supplier.

“We have chosen not to do that and your original price has been honoured.”

The company added that limiting deliveries was the only way to ensure all customers could receive oil during the current supply pressures.

It apologised for the inconvenience caused but said the situation was being driven by “a very uncertain climate which is outside our control”.

 

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Business

Legal action backed in case over development at Dinas Cross

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LEGAL action against a landowner, who repeatedly failed to comply with an enforcement notice served back in 2023, has been backed by Pembrokeshire’s national park.

Members of Pembrokeshire Coast National Park’s March development management committee meeting were asked to back delegated authority for prosecution proceedings in the magistrates’ court for failure to comply with steps required to be taken by an enforcement notice on land to the south of Parc Yr Eglwys, Brynhenllan, Dinas Cross.

A report for the committee said that, in May 2023, the park received a complaint that a green field in the open countryside had been stripped of its vegetation and turned into a mobile home park by the new landowners.

Following a site inspection, a planning contravention notice was served in relation to the removal of hedgebanks/hedgerows, widening of the existing access, alterations to ground levels, construction of a track and the siting of a storage container.

After that, a 2024 retrospective planning application was received by the park seeking retention of the hardstanding area, siting of storage container and additional landscape works, which was refused that May.

“As no voluntary steps were taken to remedy the breach of planning control and no appeal made against the refusal of planning permission, the Authority considered it expedient to issue and serve an Enforcement Notice as the development and use of the land resulted in an unnecessary incursion into the rural countryside which causes a significant visual intrusion to the detriment of the special qualities of the National Park,” the report said.

An enforcement notice was service in January 2025, but, the following month, the landowner lodged an appeal with Planning & Environment Decisions Wales, which was dismissed that June; the enforcement notice taking effect.

A further application, seeking permission for a small-scale seasonal campsite on the land was received in June 2025, subsequently refused that October; officers confirming to the landowner the enforcement notice remained in effect, running through to January 3 of this year.

A site inspection undertaken by officers on January 6 confirmed the breach of planning control continued, the report added.

This was followed by a further planning application seeking to regularise the development on January 21.

That application was refused on March 9.

The report concluded: “The landowner has had multiple opportunities to regularise the development through both retrospective applications and an appeal against the enforcement notice. Those processes have not resulted in permission being granted nor compliance being achieved.

“The continued failure to comply with the enforcement notice undermines the integrity of the planning system and public confidence in its proper operation.

“It also results in an unnecessary incursion into the rural countryside which causes a significant visual intrusion to the detriment of the special qualities of the National Park.

“Officers therefore consider it expedient and in the public interest to pursue prosecution proceedings should the breach remain unresolved.”

Members backed the recommendation.

 

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Business

Tesco B&Q Haverfordwest click and collect pod approved

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PLANS for a B&Q ‘click and collect’ pod at a Pembrokeshire supermarket, to save customers having a make a round trip of nearly 60 miles to the nearest home improvement store, have been approved.

In an application to Pembrokeshire County Council, B&Q Ltd, through agent Pyrke Planning, sought permission to install a modular ‘Click and Collect’ pod, with associated livery and signage, on the access road to Haverfordwest’s Portfield Road Tesco Extra superstore.

The application included a related scheme for signage for the proposal.

A supporting statement said: “This planning application seeks permission for the installation of a Click and Collect pod to be operated by B&Q Limited within the car park of the Tesco Extra store at Portfield Road, Haverfordwest.

“It does not involve any construction but simply the placing of a modular unit within the car park which, together with dedicated collection spaces, will take up 12 parking spaces and be situated within the customer car park.

“B&Q Limited (B&Q) is the UK’s largest home improvement retailer, serving both the general public and tradespeople. It supplies a wide range of DIY, home improvement and garden products, primarily from its stores across the UK but also through its online website.

“The trial of a new fulfilment service – B&Q Collect – in partnership with Tesco, is another step forward in their evolution. It gives customers greater choice over how they collect and return their items and helps make it easier to do their home improvement projects.

“B&Q does not have a store in Haverfordwest, with the nearest outlets being situated in Carmarthen (28 miles), Llanelli (37 miles) and Swansea (46 miles).

“It is consequently proposed to introduce a click and collect option for DIY customers and local tradespeople to allow next day collection of products which it is inconvenient for people to have delivered at home and to remove the need for a minimum c.50-mile plus round trip to one of the established stores.”

No objections to the proposal were raised by Haverfordwest Town Council.

The application, and the related signage scheme, were conditionally approved by county planners.

 

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