The Board of Directors
The Board of Directors is responsible for providing leadership, setting strategic direction, reviewing the performance of management, and ensuring that the obligations to the shareholder and other stakeholders are understood and met.
Chris Grigg
Chair of the Board and Chair, Nominations Committee
Chris brings extensive business and finance leadership to the National Wealth Fund. He served as the CEO of British Land for eleven years until November 2020, where amongst other things he oversaw large scale property development projects. See more
Previously, Chris was Chief Executive of Barclays Commercial Bank and a partner at Goldman Sachs. He served on the Board of BAE Systems from 2013 to December 2023 as a Non-Executive Director and Senior Independent Director. Chris has also served as a member of the corporate Board of Cancer Research UK.
Current external appointments:
- Chair, Evelyn Partners
- Chair, Melrose Industries plc
Chris is our National Authorities Non-Executive Director.
Oliver Holbourn
Executive Director and Chief Executive Officer
Prior to joining the National Wealth Fund, Oliver was CEO of RBS International Holdings, a subsidiary of the NatWest Group, where he was on the Group Executive Committee for over four years. With over 25 years of experience across investment banking, government investments, and strategic leadership, Oliver has deep expertise in managing capital to deliver public value. See more
Previously he served as Chief Executive Officer of UK Financial Investments (UKFI), where he was responsible for managing the government’s shareholdings in RBS, Lloyds and UK Asset Resolution, overseeing complex, high-value shareholdings on behalf of the UK taxpayer.
Earlier in his career, Oliver spent over a decade at Bank of America, latterly as Managing Director of Equity Capital Markets for the UK, Ireland, and South Africa. His career has been defined by a strong track record in financial leadership, capital markets, and public sector engagement.
Annie Ropar
Executive Director and Chief Financial Officer
Annie joined us as Chief Financial Officer in September 2022, moving to Leeds from Toronto, Canada. From 2018 to 2021, Annie was one of the first employees of the Canada Infrastructure Bank (CIB), joining as its inaugural Chief Financial Officer and Chief Administrative Officer. See more
During her time at CIB, Annie was responsible for building the finance, risk management, legal and operations functions to enable the organisation’s investment mandate.
Prior to CIB, Annie spent five years with Aequitas NEO Exchange Inc. (now CBOE Canada), a start-up stock exchange launched in 2015 to compete with the effective monopoly held by the incumbent market player. She also spent nine years with Royal Bank of Canada’s Capital Markets arm, where her career spanned finance, private equity and the institutional equity trading business. She started her post-qualification career at Newcourt Credit Group Inc. (now CIT Group Inc.)
Annie is a Canadian Chartered Professional Accountant and has served on a number of private and public company, as well as non-profit, boards.
Current external appointments:
- Non-Executive Director, Development Bank of Wales
Elena Ciallie
Shareholder Representative Director
Elena is an Executive Director of UK Government Investments Limited, having joined the organisation in October 2020. See more
Prior to that, she had a twenty-five-year career in investment banking at Citibank, Goldman Sachs and Ondra Partners advising companies across Europe on financial strategy, capital raising and capital allocation. Also, through providing advice to senior management and boards she developed corporate governance expertise and became a non-executive director on public company boards. She holds a degree in business administration from Bocconi University, Milan.
Current external appointments:
- Executive Director, UK Government Investments Limited
Bridget Rosewell CBE
Senior Independent Director and Chair, Audit and Risk Committee
Bridget Rosewell is an experienced director, policy maker and economist, with a track record in advising public and private sector clients on key strategic issues. See more
Bridget chairs the M6 Toll Company and Flood Re Limited. She is a Non-Executive Director for Northumbrian Water Limited and AWE plc. Among other roles, she has chaired Atom Bank and the Driver and Vehicle Standards Agency and has been Senior Independent Director for Network Rail and Chief Economic Adviser to the Greater London Authority.
In December 2018, Bridget was appointed CBE. She is a Fellow of the Institution of Civil Engineers, the Academy of Social Science, and the Society of Professional Economists. She writes on finance, risk, and uncertainty as well as infrastructure and modelling validation.
Bridget has worked extensively on cities, infrastructure, and finance, advising on projects in road and rail and on major property developments and regeneration. She has advised on changes to planning regulation and TfL’s finances and has appeared at planning enquiries.
Current external appointments:
- Chair, M6 Toll Company
- Chair, Flood Re Limited
- Non-Executive Director, Northumbria Water Limited
- Non-Executive Director, AWE plc
- Senior Adviser, Volterra Partners LLP
- Senior Advisor, Prysm Global
Bridget is our Senior Independent Director and Whistleblowing Non-Executive Director.
Tania Songini
Non-Executive Director and Chair, Remuneration Committee
Since 2015 Tania Songini has built a portfolio of Non-Executive Director roles including companies such as the Private Infrastructure Development Group (a development finance fund for infrastructure projects in Africa and Asia), Thrive Renewables, Guernsey Electricity and the Energy Systems Catapult. See more
Prior to 2015 Tania worked for the leading global engineering and technology services company Siemens for 18 years in their logistics, healthcare and energy businesses, where she held a number of finance director roles, including more recently for Siemens’ energy business in the UK and NW Europe.
Her energy experience is predominantly around renewable power generation and decentralised energy systems. Tania is the Chair of ViaNinos UK, a charity supporting street children in Ecuador.
Current external appointments:
- Non-Executive Director, Thrive Renewables plc
- Chair, ViaNinos UK
- Non-Executive Director, Guernsey Electricity
- Non-Executive Director, Energy Systems Catapult Limited
- Non-Executive Director, OCU Group
- Advisor, GIRA Strategic Finance
Nigel Topping
Non-Executive Director
Nigel Topping brings a unique mix of experience in running manufacturing businesses in UK regions and working on the industrial transformation to the zero-carbon economy. See more
He spent the first half of his career in automotive component manufacturing, including running businesses in Manchester and Hartlepool, and then as part of the MBO team which took TMD Friction private and turned it into the biggest manufacturer of brake pads in the world.
Since 2006 Nigel has been working on how to use the power of business to accelerate the zero-carbon transition, working at the Carbon Disclosure Project, leading the We Mean Business Coalition, launching the Science Based Targets initiative and being appointed as the UN Climate Change High Level Champion for COP26.
Current external appointments:
- Chair, UK Climate Change Committee
- Director, Ice Benchmark Administration Limited
- Founder, Ambition Loop
Nigel is our Climate Non-Executive Director.
Marianne Økland
Non-Executive Director
Marianne Økland currently serves as Lead Director on the Board of Scorpio Tankers Inc, as a Non-Executive Director of Norse Atlantic Airways, and as an independent director on the Professional Welsh Rugby Board responsible for the Welsh national teams and professional regional teams. See more
Previously she held various board positions including chairing a number of board committees at IDFC Limited (Infrastructure Development Finance Company), IDFC Alternatives (India), Islandsbanki (Iceland), the National Bank of Greece, NLB (Slovenia) as well as Hermitage Offshore. Her executive career was spent at JP Morgan and UBS structuring and raising debt capital for some of the most significant mergers and acquisitions in the Nordic area. She also headed the European operations of Marsoft advising banks and large shipping, oil and raw material companies on shipping strategies and investments.
Marianne is a Norwegian national holding a M.Sc. degree in Finance and Economics from the Norwegian School of Economics and Business Administration where she also worked as a researcher and taught mathematics and statistics.
Current external appointments
- Non-Executive Director, Norse Atlantic ASA
- Lead Director, Scorpio Tankers Inc
- Independent Director, Professional Welsh Rugby Board
Marianne is our Workforce Engagement Non-Executive Director.
Muriel Dube
Non-Executive Director
Muriel is a former Investment Banker at Investec Plc and has over two decades executive and non-executive director experience. Before this, she served as a director in the Department of Environmental Affairs and Tourism (South Africa), as chief negotiator for the South African Government in major international climate negotiations and as the Africa representative on the United Nations Expert Group on Technology Transfer. See more
- Chair, Sasol Limited
- Director, Almaz Ltd
Catherine Cripps
Non-Executive Director
Catherine Cripps is a seasoned investment management professional, having held senior leadership roles at major institutions and smaller, entrepreneurial businesses. She has built a diverse board portfolio, serving on listed company boards, private equity backed businesses, government agencies and major international subsidiaries. See more
Catherine currently Chairs Polar Capital Technology Trust plc and is a Non-Executive Director of Pool Re Insurance Company Ltd, Goldman Sachs International & Goldman Sachs International Bank
Current external appointments:
- Non-Executive Director, Goldman Sachs International
- Non-Executive Director, Goldman Sachs International Bank
- Non-Executive Director, Pool Reinsurance Company Limited
- Chair, Polar Capital Technology Trust plc
- Independent member, Investment committee for Marie Curie Charity
Tom Riordan
Non-Executive Director
Tom Riordan brings extensive experience across central and local government. He began his career in government, subsequently serving as Chief Executive of a regional development agency. He later became Chief Executive of Leeds City Council, overseeing significant regeneration and public service transformation. See more
Tom currently serves as Second Permanent Secretary at the Department for Health and Social Care and will undertake the NED role alongside this position.
Current external appointments:
- Second Permanent Secretary, DHSC
- Director and trustee. Middlesbrough Football Club Foundation
Joseph Schull
Non-Executive Director
Joseph Schull is Co-Founder and Managing Partner of private equity firm Corten Capital. Previously, Joseph was Head of Europe at Warburg Pincus and a member of the firm’s Executive Management Group, responsible for overseeing investments in multiple sectors, with a focus on technology. See more
Joseph is an experienced board member, having served as both an investment director and a non-executive director. He brings over 25 years of investing and business building expertise as well as strategic insight to NWF’s Board.
Current external appointments:
- Corten Capital, Co-Founder and Managing Partner
- Placeholder Films Ltd, Founder and Director