The Challenge
In response to growing international competition, to deliver a strategy to showcase the City of London and the UK’s wider financial and professional services sector as the World’s leading international financial centre and thereby to boost exports and economic growth.
The Approach
One-to-one meetings to listen and build trust with Chairs and CEOs of leading City companies and professional institutions in retail and investment banking, asset management, insurance, reinsurance, Islamic and green finance, accountancy, consulting, venture capital and law, the Lord Mayor, City of London Corporation, regional financial centres and HM Treasury. Analysis of market trends, UK strengths, weaknesses, opportunities and threats and those of international competitors, leading to recommendations for action.
The Outcome
Establishment of a senior Financial Services Sector Advisory Board, reporting to the most senior level of government. Agreement to and delivery of a targeted international strategy and events programme that focussed on five key overseas markets, including China and India, and three sub-sectors. Joint industry/government working led to the foundation of TheCityUK which today represents financial and related professional services companies across the UK.
The Impact
The UK remains the world’s largest net exporter of financial services and is the world’s second top financial centre after New York.