City of London Corporation meets Stormont leaders in push for critical financial services reform

The Policy Chairman of the City of London Corporation will this week visit Belfast and Derry-Londonderry, meeting with First Minister Michelle O’Neill MLA and deputy First Minister Emma Little-Pengelly MLA as well as business leaders to discuss greater financial services collaboration between London and Northern Ireland. 

As political leader for the UK’s premier financial district, the Policy Chairman will meet prominent politicians and senior figures from financial and professional services, including Northern Ireland Committee for the Economy Chairperson, Phillip Brett MLA and Mayor of Derry City and Strabane District Council Cllr Patricia Logue.

The meetings will be used to foster a closer relationship in financial and professional services post-Brexit and promote the City Corporation’s strategy as outlined in our flagship report Vision for Economic Growth. The Northern Irish financial and professional services ecosystem contributes to this roadmap strongly, particularly in digital tech, raising investment levels and sustainable finance.

With recent developments in the political landscape of Northern Ireland, the visit also provides an opportunity for the City Corporation to engage with Stormont on its ‘10x Economy’ strategy.

Northern Ireland was an obvious partner in the first wave of the City Corporation’s UK strategy when it was launched in 2016, not only because of strong historical links, but also because of the burgeoning financial services sector it has built in recent years. There are around 50,000 jobs in the sector in Northern Ireland, which are now spreading rapidly from Belfast to Derry-Londonderry.

Policy Chairman of the City of London Corporation, Chris Hayward, said:

“Northern Ireland plays a significant part in the success of UK financial services, with its 50,000 sector jobs and sizable contribution to the wider economy.

“Strengthening our financial services partnership with Northern Ireland will be integral to delivering the proposals in Vision for Economic Growth to reform the sector and create more prosperity across the nation. In addition, we welcome the opportunity to engage with the Stormont Executive on the 10x Economy strategy of which Northern Ireland’s fintech, RegTech and sustainable finance success will play a significant role.”


Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk