The Chief Executive of TheCityUK Miles Celic and International Trade Minister Mark Garnier have been given new roles to help champion British financial services.
The duo will join the Financial Services Trade and Investment Board (FSTIB), the Chancellor has today confirmed.
The FSTIB, launched at the Budget in 2013, is tasked with strengthening the UK’s position as the centre of global finance as well as enabling our world-class financial services sector to deliver jobs and growth across the country.
The Chancellor of the Exchequer, Philip Hammond, said:
Backing Britain’s world leading financial services industry is a key part of our plan to ensure the UK remains a great place to do business.
So today I am making two new appointments to the important Financial Services Trade and Investment Board, to ensure we continue building on our success to date in positioning Britain at the centre of global finance.
Miles Celic, Chief Executive, TheCityUK said:
The UK is the leading global financial centre and sustaining its position requires close co-operation between Ministers, policy makers and the industry. The Financial Services Trade and Investment Board has proven itself an important forum for achieving this. Ours is an industry that is structurally important to the wider UK economy, supporting nearly 2.2 million jobs across the country, paying more in tax than any other sector and contributing 12% of GDP. When UK-based financial and related professional services is doing well, the economy does well.
Over the next two years, the Board will be focussed on 7 high-growth areas: capital markets, fintech, insurance, investment management, UK-China financial services, UK-India financial services, UK-US financial services. Work in each area will be led by one of the private sector Board members.
The new members will join the following existing members:
- Gerry Grimstone, Chair, Standard Life
- Helena Morrissey, Chair, Newton Investment Management
- Inga Beale, CEO, Lloyd’s of London
- John McFarlane, Chairman, Barclays
- Nathan Bostock, CEO, Santander UK
- Xavier Rolet, CEO, London Stock Exchange Group
- Charles Roxburgh, Second Permanent Secretary to the Treasury
- Deborah Bronnert, Director General Economic and Consular, Foreign and Commonwealth Office
- Katharine Braddick, Director General, Financial Services, HM Treasury
The Board is chaired by Simon Kirby MP, Economic Secretary to the Treasury.
Once the lead official for financial and professional services at Department for International Trade is appointed, they will also join the Board.