Graham Wrigley has been appointed as the new chairman of the board of CDC, the UK government-owned development finance institution that invests in the developing countries of South Asia and Africa.
Wrigley (pictured) will take up the role in January 2014 and succeeds Richard Gillingwater who has been chairman since April 2010.
Wrigley comes to CDC with extensive experience of investing in developing and developed markets. He had a 17 year career with the one of the world’s largest private equity firms, Permira, and has served as chairman of Aureos, a major investor in small and medium sized enterprises in Africa, Asia and Latin America.
He has also been a director of CASHPOR, a microfinance institution which targets the poorest people in India, and is an associate professor at INSEAD, one of the world’s leading business schools.
International development secretary Justine Greening says: “I am very pleased to announce that I have appointed Graham Wrigley as the new chair of CDC. His considerable experience as a successful investor, helping small enterprises to grow into profitable businesses, and his demonstrated commitment to working in developing countries make him the ideal candidate to lead CDC in the implementation of its new strategy.”
Wrigley says: “I’m delighted to be joining CDC at such an exciting time for the organisation. The high calibre team at CDC is making enormous progress delivering the new strategy, which will create jobs and support the growth and building of businesses in some of the world’s poorest countries.
“Investing successfully in challenging places as well as demonstrating the impact of these investments requires a long term horizon and enormous patience, so there is plenty more to do. I am looking forward to working alongside the Board and the executive team to fully realise the vision that has been agreed with DFID.”
Gillingwater says: “I’m delighted that Graham Wrigley will be the next chairman. He is taking over at an exciting time, with a new strategy for CDC and a much invigorated leadership team. I wish him well.”
Wrigley will join the board, subject to formal approval from the FCA, in October 2013 as a non-executive director and will become chairman at the start of 2014.
