Develop North appoints new deputy chair

Develop North PLC has appointed Dr Sameer Al-Ansari as non-executive director and deputy chairman to help shape its future investment strategy and raise its international profile.

The Newcastle-managed investment fund, listed on the London Stock Exchange, is aiming to drive new capital into the North East. 

Dr brings over 30 years’ experience in finance, private equity, healthcare, real estate and digital assets.

He founded Dubai International Capital, overseeing $13 billion in assets, and led SHUAA Capital through post-crisis recovery. 

He currently serves on multiple international boards and was most recently chief executive of RAK Digital Assets Oasis.

Dr Al-Ansari said: “I am delighted to join the board of Develop North at such an exciting time in its evolution. 

“The fund has a clear ambition to support high-quality investment opportunities and drive positive economic impact across the North of England. 

“I look forward to bringing my expertise and network to support its continued growth and to help further raise its profile nationally and internationally.”

Since 2017, Develop North has backed over 40 projects across the North and Scotland, supporting 3200 jobs and delivering nearly £250 million in gross development value.

John Newlands, chairman of Develop North, added: “It’s a pleasure to welcome Sameer to the board. 

“His exceptional track record and global perspective will bring valuable depth to our strategic thinking. 

“This appointment marks another important step in elevating Develop North’s position as a catalyst for investment and growth across the North East region.”

Ian McElroy, chief executive of Tier One Capital, added: “Dr Al-Ansari’s appointment represents a significant strengthening of Develop North’s leadership and direction. 

“His undoubted experience, proven track record and international reputation will help to enhance the fund’s strategic vision and capability. 

“Sameer’s involvement will not only support the long-term growth of Develop North, but will also help attract greater investment into the North East, creating new opportunities and supporting the region’s future prosperity.”

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