“Jewels in UK financial sector with astonishing impact on businesses and individual lives have potential to do even more.”
Responsible Finance thanks Charles Dodwell for serving as Chair for four years and welcomes Peter Udale to the role.
Peter has been a director of Responsible Finance since 2020 and has been elected to the role of Chair by the board. Charles will remain on the board. We are grateful to Charles for his support, leadership and stewardship over the last four years.
We welcome Peter as our new Chair. He has already worked hard to raise the profile of community development finance institutions (CDFIs, our members) in government, and break down barriers to CDFIs getting more investment. It is a key moment for the people, businesses and communities CDFIs serve so well. Responsible Finance will continue to strive to help CDFIs meet the scale of the need.
Peter Udale, Chair of Responsible Finance, said:
“I am very pleased to take on the role of Chair at such an exciting time both for Responsible Finance and for the CDFI sector more broadly. Our members do an amazing job at providing affordable, flexible finance to people and businesses who are less well served by mainstream finance. Each year their social and economic impact on businesses and individual lives is truly astonishing.
“CDFIs are still a relatively undiscovered jewel in the UK financial sector. Although they already do much to tackle the impact of financial exclusion, they have the potential to do much more. Raising awareness of CDFIs and building better access to long-term, low-cost sources of finance are critical to their continued growth. I look forward to working closely with our Board, and Theo and her team to deliver on these goals.
“On behalf of Responsible Finance and its members I would like to thank Charles Dodwell for his excellent stewardship of Responsible Finance over the past four years and for his continuing presence on the Board.”
Charles Dodwell said:
“After four years as Chair, I have decided the time is right to stand down. As a movement the CDFI sector has faced some challenging times over the last few years and now our tasks are more focused on growth and upscaling. As a Board we have voted to make Peter Udale the new Chair, and I know he will lead Responsible Finance well. He is well aware of the issues we face, and he has helped to raise our profile considerably. He will also be a vital support for Theo and her growing team. I remain passionate about Responsible Finance and the mission that drives us all.”
Theodora Hadjimichael, Chief Executive of Responsible Finance, added:
“Responsible Finance is very fortunate to have a dedicated board who are passionate about growing CDFIs’ impact for people, businesses and communities.
“Charles has been an excellent convener and during his time as Chair supported the organisation to grow its membership and its voice. I am personally very grateful to Charles for his support, leadership and stewardship over the last four years.
“We are very excited that Peter is taking on the role as Chair of Responsible Finance. He is passionate and tireless and has worked incredibly hard to raise the profile of CDFIs in government and break down barriers to CDFIs getting more investment. It is an important time for the people, businesses and communities that CDFIs serve so well; Responsible Finance will continue to strive to help CDFIs meet the scale of the need.”
What next?
- Theodora Hadjimichael and Peter Udale are frequently quoted by media. We can offer commentary, data, opinion pieces and case studies regarding access to fair and affordable finance for people, businesses and social enterprises. Journalists: please contact Jamie Veitch for interview, comment and case study requests.