City of London Corporation engages with Stormont leaders to advocate for essential reforms in financial services
This week, the Policy Chairman of the City of London Corporation is set to visit Belfast and Derry-Londonderry, where meetings with First Minister Michelle O’Neill MLA, deputy First Minister Emma Little-Pengelly MLA, and key business leaders are scheduled to discuss enhanced collaboration in financial services between London and Northern Ireland.
In their role as the political leader of the UK’s primary financial district, the Policy Chairman will engage with prominent politicians and influential figures in the financial and professional services sectors. Notable individuals include Northern Ireland Committee for the Economy Chairperson, Phillip Brett MLA, and Mayor of Derry City and Strabane District Council, Cllr Patricia Logue.
The primary objective of these meetings is to foster closer ties in financial and professional services post-Brexit, aligning with the City Corporation’s strategic goals outlined in the flagship report, Vision for Economic Growth. The financial and professional services ecosystem in Northern Ireland, particularly in digital tech, investment elevation, and sustainable finance, plays a crucial role in advancing this roadmap.
Given recent political developments in Northern Ireland, this visit also presents an opportunity for the City Corporation to engage with Stormont regarding its ’10x Economy’ strategy.
When the City Corporation launched its UK strategy in 2016, Northern Ireland was a natural partner due to historical connections and the flourishing financial services sector, boasting approximately 50,000 jobs. These jobs are rapidly expanding from Belfast to Derry-Londonderry.
Chris Hayward, the Policy Chairman of the City of London Corporation, emphasized the significance of Northern Ireland in the success of UK financial services. He stressed the importance of strengthening the financial services partnership with Northern Ireland to implement the proposals in Vision for Economic Growth, fostering sector reform and prosperity nationwide. Additionally, he expressed eagerness to engage with the Stormont Executive on the 10x Economy strategy, where Northern Ireland’s achievements in fintech, RegTech, and sustainable finance are expected to play a pivotal role.