Career changes Career moves Growth Business round-up 2023.
Judith Hartley appointed CEO of British Business Investments
Judith Hartley has been appointed as the new CEO of British Business Investments, the commercial division of British Business Bank.
Hartley was appointed interim chief executive at British Business Investments in September 2020. She will then assume the role of CEO permanently.
Catherine Lewis La Torre, sacked from the position of CEO at British Business Bank, has been named the CEO of British Patient Capital and chair of British Business Investments.
Hartley stated that she is “delighted” by the decision and hopes “to continue to grow the business and its impact on the market for small-business finance in the UK.”
VCTA selects new chair
In July, the Venture Capital Trust Association (VCTA), the body that trades in the United Kingdom’s VCT industry, named Will Fraser-Allen its chair.
He is currently the managing partner of the country’s top independent investment management firm. He is also a VCTA participant in Albion Capital Group.
Fraser-Allen is also a member of the committee on venture capital that is part of the British Venture Capital Association (BVCA) and was vice-chair and chairman of the committee on public policy at the VCTA over the last year.
In his time as president, he has been a critical player in the engagement of the association with the government on VCT’s “sunset clause.” VCT “sunset clause” that was extended beyond 2025.
Fraser-Allen added: “VCTs currently support over 1,000 of the most innovative young UK companies… Capital from equity has been vital in helping these companies expand, and it is expected to remain so in the face of uncertain times with the pressures of the cost-of-living crisis and the rising cost of living.
“I am ecstatic to be an able advocate in the VCT industry and, more importantly, the interests that the entrepreneurs help.”
Praetorian Ventures bolsters the investment team.
A Manchester-based venture capital company, Praetura Ventures, has made five new additions to its investment team.
Jessica Jackson joins Praetura as an investment manager from GC Angels and will help to support the founders. Jackson will drive new investment opportunities from Praetura’s EIS Growth Fund and its new PS20m GMC Life Sciences Fund. She will also continue to serve on the steering group for Fund Her North, which helps and encourages female entrepreneurs throughout North England. North of England.
The other recruits are Grace Sanderson, Michael Rees, and Michael Rees; they join Praetura as senior investment officers. Sanderson has worked with Maven Capital Partners for three years and will help support the GMC Life Sciences Fund. Rees joins Praetura from the Development Bank of Wales and will concentrate on keeping the company’s EIS portfolio.
Praetorian Ventures has also recruited two fresh graduates to join its investment associates. Emily Bourne graduated from the University of Oxford this summer and has gained experience through the Paris-based VC Partech. Stefano Smith graduated from the University of Dundee in 2020 and has worked for 18 months as a trainee Financial Planner at Forth Capital.
Northern Gritstone expands the investment team.
Investors in University spinouts Northern Gritstone appointed Alison Maughan as their investment manager.
Alison comes to Northern Gritstone after four years with Deepbridge Capital, specialising in life sciences. She joins following the appointment of Mark Wyatt, who joined Northern Gritstone as investment director in the last month after leaving Mercia Asset Management.
Alison is responsible for helping to guide the future investment of the company and will initially be based in Manchester.
Alternative finance company Nucleus joins the team of development
Nucleus Commercial Finance, an alternative financing provider for UK SMEs, is now part of their business development staff’s appointment for Bilal Hussain.
The appointment comes after roles that he held at Santander and CYBG as an executive in business development, in which he was charged with managing the growth of SME customers.
In his new role at Nucleus, He will be in charge of corporate relations with prospective and existing UK companies and particular SME clients.