· Office for Investment: Financial Services unveils advisory committee
· Global CEOs and Chairs from Citi Bank, Goldman Sachs and EY will support new investment hub
· Corporation Policy Chairman, City Minister and Investment Minister open first meeting
The Office for Investment: Financial Services (OfI: FS) this week announced its Advisory Committee of global business leaders to guarantee the success of the new investment hub.
The newly formed Advisory Committee brings together CEOs and Chairs from major global institutions, including AXA UK, Bloomberg, Citi UK, State Street, Coinbase, EY, FTI Consulting, Goldman Sachs International, Lloyd’s of London, M&G, Mubadala, working in partnership with ministers and senior policy-makers. The first meeting of the committee was officially opened by the Policy Chairman of the Corporation Chris Hayward, the City Minister Lucy Rigby and the Minister for Investment Lord Stockwood.
The OfI: FS is a concierge service helping international financial firms establish or expand in the UK, offering tailored regulatory and business support to accelerate investment and reinforce the UK’s global financial leadership. This is a public-private collaboration that brings together the Government, regulators and industry – is now operational and acts as a dedicated “one-stop-shop” for international financial firms wishing to establish or expand their presence in the UK.
Commenting on the launch, Chris Hayward, Policy Chairman of the Corporation, said:
“This marks a game-changing moment for UK financial services. In just six months, we’ve gone from vision to delivery – launching a service that brings together Government, regulators and industry to position the UK as the premier global hub for financial-services investment.”
Key highlights include:
· A dedicated advisory committee comprising global heads of business advising on investor-needs and UK market entry.
· The OfI: FS service combining regulatory, business and geographic support to streamline investment into the UK across nations and regions.
· Government-backed ambition to make the UK the most attractive location for financial-services expansion, by removing friction, aligning industry and government, and enabling high-value investment growth.
Lucy Rigby, Economic Secretary to the Treasury KC MP said:
“Delivering tailored support for financial services businesses will fast track more investment into the UK economy, driving growth, creating jobs and putting more money in people’s pockets.
“I’m delighted that support will be supercharged with years of business experience, ensuring firms get the help they need to set up and grow in this country.”
Minister for Investment Lord Stockwood said:
“It’s great news that this new unit from the OfI will bring together experienced business people with the skills and talents needed to ensure the UK remains one of the best places to invest.
“With financial services being a key growth sector in our modern Industrial Strategy, today’s announcement will go a long-way in enabling future high quality investment growth into the sector – helping to create jobs and new opportunities for people across the country.”
Tara Foley, CEO at AXA UK & Ireland, said:
“Collaboration between government, regulators and industry is essential to unlocking the UK’s full potential as a global financial centre.
“AXA’s global footprint gives us a strong understanding of what firms look for when choosing where to invest. I’m delighted to join the Advisory Committee and look forward to helping shape a service that makes it easier for international financial firms to invest, create jobs and drive growth across the UK.”
Omar Ali, EY Global Financial Services Leader, comments:
“The UK has long been the most attractive destination in Europe for financial services investment thanks its strong capabilities, deep expertise, commitment to innovation, and robust capital markets. The Advisory Committee will build on this success, creating the opportunity for global business leaders, regulators, and Government to work together even more closely to ensure the UK not only retains its position in Europe, but grows its standing internationally as a leading centre for financial services.”
Keith Grose, UK CEO, Coinbase, said:
“I am delighted to serve on the Advisory Committee to the UK’s Office of Investment: Financial Services. The UK is Coinbase’s largest international market and fertile ground for financial services and digital asset innovation. The Office of Investment will play an important role to position the UK competitively in the global race for digital assets, and to realise the benefits afforded by technological innovation.”
ENDS
Notes to editors
The Committee Advisory members include Tara Foley, CEO of AXA UK; Constantin Cotzias, European Director at Bloomberg; and three representatives from the Corporation: Christopher Hayward, Policy Chairman; Damian Nussbaum, Executive Director for Innovation and Growth; and Ana Nishnianidze, Director of Trade and Investment. Emilie Choi, President and COO of Coinbase, and Tiina Lee, CEO of Citi UK, are also included. From EY, the representative is Omar Ali, Global Financial Services Leader. John Waples serves as Senior Managing Director and EMEA Chair at FTI Consulting, while Antony Gutman is Co-CEO of Goldman Sachs International. Charles Roxburgh is Chairman of Lloyd’s of London, and Ed Braham is Chair of M&G. The list also features Matthew Hurn, Executive Director and CFO of Mubadala; Rahul Ahluwalia, CEO of OfI: FS; and Ann Prendergast, Executive Vice President at State Street.
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