Develop North has appointed Michelle Percy as its new CEO as the North East-based investment company ramps up for its next phase of growth following the launch of a £58 million fundraise.
Percy’s appointment takes effect immediately and comes soon after the publication of its prospectus.
It plans to expand its activity as it continues to deploy capital into projects across the region.
Percy joins the listed company after almost nine years at Newcastle City Council, where she played a senior role in attracting inward investment and building public-private partnerships across a development pipeline valued at around £7 billion.
During her time at the council, she worked on major regeneration and development projects and was closely involved in investor engagement, including working alongside Newcastle United’s leadership following the club’s takeover by a Saudi-led consortium.
Before moving into the public sector, Percy was a director at Clouston Group, where she contributed to several high-profile schemes in Newcastle, including the Stephenson Quarter regeneration and the development of the Crowne Plaza Hotel.
Despite taking on the CEO role, she will not join the board of directors at this stage.
Since floating in London in 2017, Develop North has invested almost £90m across the North of England and Scotland and said it has supported an estimated 12,000 jobs, linked to a gross development value of more than £280m.
“I am proud to join Develop North at such an important moment for both the company and the North East,” said Percy.
“Develop North has a unique role in unlocking inward investment and giving people the opportunity to invest in the region’s future.
“This appointment builds on my long-standing commitment to a region I care deeply about, and I look forward to helping develop a platform that channels capital into projects that deliver meaningful impact.”
John Newlands, chairman of Develop North, added: “Michelle brings an outstanding pedigree to Develop North, with a strong track record across the North East in securing investment, delivering major regeneration schemes and building strategic partnerships.
“The board is confident that her appointment will support Develop North’s next phase of growth.”
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