With the CBI and the Principality Building Society celebrating landmark anniversaries this year, the drive for Wales to achieve sustainable economic growth has been given a boost after the appointment of Principality director Iain Mansfield as CBI Wales Vice Chair.
Iain, Chief Financial Officer at the 165-year-old building society, brings substantial business experience, insights and considerable acumen to the CBI which is also celebrating a special anniversary – 60 years as the voice of business. He will be Chair-designate of CBI Wales, stepping up to this role in 2026.
He is working with CBI Wales Director Russell Greenslade and Chair Alison Orrells during a busy period for business following the Spending Review, the forthcoming launch of the UK Industrial Strategy and the Welsh Government’s international investment summit – an event that was announced at the CBI Dinner last year – in Newport on 1 December.
Iain will also be a high-profile presence at the CBI Wales Dinner at Sophia Gardens, Cardiff, on 13 November, a key date in the calendar for Welsh business, UK, Welsh government politicians and other stakeholders.
Welcoming Iain’s appointment, Russell Greenslade, Director, CBI Wales, said:
“I’m excited to welcome Iain as Vice Chair. He will play a crucial role supporting myself and the team in representing the interest of business in Wales, utilising the CBI’s unrivalled expertise and policy insights from across the UK to ensure the governments in Cardiff and London are delivering for business.
“With such an extensive business background, an understanding of the financial burden and risk businesses face – from high energy costs to rises in NICs introduced in the Autumn Budget – and knowledge of a rapidly changing economy that includes advances in AI, and the skills shortages holding back firms, Iain will complement our current Chair’s tremendous work.
“Although the CBI has a few years to go to match the Principality’s 165 years, our organisations have much in common, including a strong and supportive membership base, and businesses – from north, south, east and west – that I’ve spoken with about Iain’s appointment are delighted that he further strengthens the CBI Wales senior leadership team.”
Alison Orrells, Chair, CBI Wales and Managing Director and CEO, The Safety Letterbox Company, said:
“With my extensive background at the front of a Welsh business and in particular manufacturing, exporting and SME challenges, coupled with Iain’s significant experience in financial services, we’ll be a strong double-act over the coming months to reinforce the CBI’s reputation as the voice of business in Wales amid a time of increasing global economic uncertainty, from trade tariffs to conflict in the Middle East and to continuing high energy prices.
“We must ensure firms across Wales have access to a ready supply of skilled people and are equipped for the rapidly changing technology and use of AI. We need to do all we can to unlock barriers to growth and we’ll both be listening closely to what businesses have to say at our quarterly CBI Wales Council meetings and working groups, taking CBI members views and experiences to policy colleagues to feed into the heart of government.”
Iain Mansfield, Vice Chair, CBI Wales and Chief Financial Officer, Principality Building Society, said:
“It is a genuine privilege to take up the position of Vice Chair, and eventually Chair, at the CBI in Wales, particularly as the organisation celebrates its 60th anniversary alongside Principality’s own 165th year of supporting communities across Wales.
“Throughout my career, I’ve witnessed firsthand the resilience, adaptability and innovation that define and drive businesses in Wales.
“Businesses today are navigating a complex economic landscape shaped by global challenges such as elevated interest rates and inflationary pressures. Yet here in Wales, we also face specific challenges closer to home—particularly the urgent need to unlock productivity to secure sustainable, long-term growth.
“Addressing these issues requires collaboration across the diverse businesses that underpin our local and national economy.
“I look forward to working with Russell, Alison and our membership to represent and champion the needs of businesses in Wales and ensure that together we help shape a thriving economic future for Wales and its businesses.”
