An innovative financial start-up which will create 90 new jobs for the area, has celebrated the official opening of its new Wrexham office.
Chetwood Financial Ltd, based on Ellice Way on the Wrexham Technology Park, marked the opening of their new home in Wrexham yesterday with the launch a new range of online innovative loan products.
The company, which is creating 90 high quality jobs in North East Wales, is led by a management team who have operated at senior executive levels in UK retail banks and overseas.
Welcoming guests at its office opening event, the company’s founders – technology expert Mark Jenkinson and ex-senior HSBC banker and son of Wrexham Andy Mielczarek – introduced themselves and their vision to attendees, including Welsh Assembly officials, local councillors and Welsh ICE – the Innovation Centre for Enterprise.
Previously hailed as ‘great news for Wales’ by the Welsh Government, Chetwood Financial already employs 28 people, with this number expected to increase further as the number of products on offer expands. Each product will be designed to challenge the financial services sector by delivering better customer outcomes through digital technology and offering exceptional value.
Wrexham was chosen as a base for the company given its vibrant business community, technology-focused Wrexham Glyndwr University and Coleg Cambria college, as well as the CEO being originally from the area.
Their move to the area has been supported by £750,000 business finance from the Welsh Government.
Speaking at yesterday’s launch, Economy Secretary Ken Skates said he looked forward to seeing the company form part “of a lasting and financial hub in this part of Wales”.
He added: “I am very pleased to welcome Chetwood to Wrexham, and to have supported their move here with £750,000 of Welsh Government funding.
“Our investment in Chetwood is helping to support the creation of 90 well paid skilled jobs, in what is becoming a thriving professional and financial services sector in North East Wales.
“It is particularly pleasing to see Chetwood working with Coleg Cambria, Glyndwr University and others to ensure their business capitalises on local talent.
“With the region attracting a growing number of financial specialists, not least our own Development Bank for Wales, I look forward to seeing Chetwood Financial building North East Wales’ reputation as a destination for financial service companies and forming part of a lasting and financial hub in this part of Wales.”
The company will also operate using cloud-based technology and plan to develop a range of standalone products, from loans, savings accounts and even mortgages. However the founders hope to create products that are dynamic and responsive – unlike anything yet seen in financial services.
CEO Andy Mielczarek said: “It’s a huge milestone for us to finally open our doors and to be able to operate right here in my home town, Wrexham.
“The assistance from the Welsh Government has been integral and we’re confident that their investment will pay dividends for the people of Wrexham and the wider public as we fulfil our plans to create smarter financial products that make people better off.”
COO Mark Jenkinson added: “It might sound complex when we say we’re a product manufacturer rather than a bank – but what we’re offering is refreshingly simple. We design really good, cost-efficient financial products that will make use of cutting edge software so they’re different to the products currently out there.
“Whether that’s a loan, savings account or mortgage – they will be clever, dynamic products that make people better off and give them a better experience too.”
More information about the company can be found on the Chetwood Financial website.