First ever Lord Mayor to visit Cuba to build financial ties

The Lord Mayor of the City of London, Jeffrey Mountevans, will be the first ever Lord Mayor to visit Cuba when he arrives in the country on May 5th 2016.

As Ambassador for the UK’s financial services industry, the Lord Mayor will be looking to strengthen the ways in which the UK and Cuba can build their links in the financial services sector. He will be meeting with government ministers, regulators and senior business leaders during their time in the country.

Lord Mayor Jeffrey Mountevans said: “It truly is an exciting time for global business to strengthen commercial links with Cuba. I know that the City of London – the pre-eminent international financial centre – is looking forward to supporting Cuba in this pivotal phase of its development and growth.

“The City of London has the global services and skills to help Cuba realise its ambitions and I am looking forward to a productive visit that will forge a stronger trading relationship between our two countries.”

Cuba remains an attractive market for City firms with economic growth of four per cent in 2015, a new Foreign Investment Law and a published portfolio of investment opportunities for foreign companies. As part of the visit, the Lord Mayor will looking for opportunities in infrastructure development, particularly in transport, the development of ports, airport enlargement and energy efficient cargo. The UK with its expertise in infrastructure financing is well-placed to work with Cuba in this area.

The Lord Mayor will also be visiting Brazil and Chile as part of a ten-day trade mission.

Notes to editors

About the City of London Corporation

The City of London Corporation provides local government and policing services for the financial and commercial heart of Britain, the 'Square Mile'. In addition, the City Corporation has three roles:

  • We support London’s communities by working in partnership with neighbouring boroughs on economic regeneration, education and skills projects. In addition, the City of London Corporation’s charity City Bridge Trust makes grants of around £20 million annually to charitable projects across London and we also support education with three independent schools, three City Academies, a primary school and the world-renowned Guildhall School of Music and Drama.
  • We also help look after key London’s heritage and green spaces including Tower Bridge, Museum of London, Barbican Arts Centre, City gardens, Hampstead Heath, Epping Forest, Burnham Beeches, and important ‘commons’ in south London.
  • We also support and promote the ‘City’ as a world-leading financial and business hub, with outward and inward business delegations, high-profile civic events and research-driven policies all reflecting a long-term approach.

About the Lord Mayor of the City of London

  • The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year).
  • The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister.
  • The Lord Mayor meets several international Heads of Government and Business each month to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor lives in the Mansion House for the Mayoral year.

See www.cityoflondon.gov.uk for more details or contact Susanna.Lascelles@cityoflondon.gov.uk / 020 7332 1754