North West Business Finance, manager of the £155m venture fund, has named Malcolm Edge as chairman and Cliff Maylor as chief executive.
Edge was previously one of two vice chairmen of KPMG in the UK, based in Manchester, and is currently a consultant with the firm.
Maylor joined NWBF in December 2010 as chief financial officer. He is a Liverpool Chartered Accountant with a strong entrepreneurial background in the SME arena.
The fund launched with £185m in 2010 and has since had £30m taken back by financers the European Investment Bank and European Regional Development Fund. Earlier this year, a new business plan was ordered and the original chief executive Andy Leach departed suddenly.
Maylor said: "We have now invested over £40m in more than 140 North West businesses, with £30m of this invested in 2012 alone, helping to create or safeguard more than 1,000 jobs. I am looking forward to continuing my work with The Fund, building a successful investment fund for the region and driving the economy of the North West forward."