City of London Corporation Policy Chair visits Cardiff to strengthen ties between the cities

Catherine McGuinness, Policy Chair of the City of London Corporation, will visit Cardiff today [27 June 2019] to strengthen political and cultural ties between the cities, and encourage collaboration in financial services.

The Policy Chair serves as political leader of the UK’s leading financial and professional services district and will be meeting with prominent Welsh politicians including the First Minister for Wales, Deputy Minister for Culture, Media and Sport, and Leader of Cardiff Council. She will also be meeting with arts leaders as part of the City of London’s cultural drive, in recognition of the sector’s growing contribution to the economy.

Miss McGuinness will use the meetings to encourage a closer relationship in financial services, particularly with Brexit looming, and promote the City Corporation’s regional strategy. Cardiff is one of the key cities in the strategy, which is helping to increase inward investment and build awareness of how London can act as a springboard for Cardiff-based firms to export their products and services globally.

A report by the think tank Centre for Cities and the City of London Corporation found that Cardiff topped the list of UK cities when it came to finance’s share of services exports. Financial services accounts for over a half (54%) of Cardiff’s total exports and 81% of its services exports.

The Policy Chair’s trip to Cardiff comes on the back of the Lord Mayor of London’s visit in November last year, in which he successfully encouraged Welsh firms to join him on overseas business delegations to take advantage of new opportunities around the globe.

Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“I’m delighted to be meeting some of Cardiff’s key political and arts leaders to strengthen the links between our two great cities.

“Like London, Cardiff is a hub for innovation with an increasingly vibrant financial and arts offer. With our departure from the European Union on the horizon, it is more important than ever that our two cities work together to unlock the potential of the UK regional economy.

“A healthy, collaborative domestic economy is essential for us to further cement the UK as the leading financial and professional services centre in the world and strengthen our competitiveness on the global stage.”

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

The City of London Corporation voted to double its regional strategy last year to encompass six major cities, including Cardiff.

The strategy involves the City of London Corporation engaging with cities in a number of ways, including:

  • Inward investment: For firms looking to increase their domestic presence, the City Corporation can help facilitate the process of expanding their operations across the UK;
  • Trade links: As part of their extensive programme of international travel, both the Lord Mayor of the City of London and the Policy Chair will invite representatives from the regions to join them in meeting senior representatives on the visits;
  • International outlook: Building awareness of the opportunities and expertise London provides to UK-based firms to export their products and services globally.