A leading city figure, with strong local links, has agreed to join the board of the Tees Valley Urban Regeneration Company (URC).

Sir Mark Wrightson, chairman of Close Brothers Corporate Finance, is the latest high-profile appointment.

Others have included Hartlepool MP Peter Mandelson, chairman of the Tees Valley Partnership, Alistair Arkley, John Bridge, chairman of regional development agency One NorthEast, Middlesbrough Council's chief executive, John Foster, Michael Fox, deputy chairman of GTL Resources, and Stockton Borough Council's chief executive, George Garlick.

Peter Middleton, chairman of the URC, said: "I am confident that Sir Mark's involvement will significantly strengthen the board and the ability of the URC to deliver on the challenge of attracting investment to Tees valley."

Sir Mark's great grandfather founded Head Wrightson in 1865. It was acquired by the Davy Corporation in the 1970s.

After gaining a degree in economics from Cambridge, Sir Mark trained as a barrister and joined city company Hill Samuel, being appointed a director in 1984. He moved to Close Brothers in 1996.

He said he was delighted to be involved with the URC.

"I am proud of my family's contribution to the area's industrial past and I hope I can help to build the business of the future," he said.

The URC will be involved in delivering key projects including the Middlehaven development, regenerating the Tees riverbank in Stockton, further expansion of Teesside International Airport, and enhancing Darlington's role as a gateway to the Tees Valley and the North-East.

was announced by the Government as part of a package of measures following major job losses in the steel industry.

It in at I believe will be a significant player in the economic regeneration of the Tees Valley.