Lord Mayor of London wants ambitious Welsh firms to join him abroad

The Lord Mayor of London William Russell will today [9 March 2020] visit Cardiff, using the trip to call on Welsh firms with international ambitions to join him on upcoming trade delegations abroad to explore international business opportunities and expansion.

As an ambassador for the UK’s financial and professional services industry, the Lord Mayor will meet the Secretary of State for Wales, the Welsh Government Minister for International Relations, the Welsh Fintech Envoy and leading business and fintech figures that are at the heart of the city’s success.

During the visit the Lord Mayor will hear first-hand from those who have transformed and developed Cardiff’s burgeoning financial and professional services ecosystem, learning from them and sharing examples of best practice.

The meetings will be used to promote the City Corporation’s UK Partnerships strategy, which is helping to strengthen financial and professional services links across the whole of the UK. In particular, the strategy aims to increase inward investment into its partner cities and build awareness of how London can act as a springboard for local firms to export their products and services globally.

Cardiff is a key city in the strategy with good reason. Wales has the fastest growing digital economy outside of London, and the growth of the country’s financial and professional sector has led to a thriving fintech industry, especially in the Welsh capital.

The UK Partnerships Strategy has been particularly successful in Wales. Welsh firms Delio and Amplyfi joined previous overseas Lord Mayor delegations to take advantage of opportunities around the globe. After joining a delegation to Australia in 2018, Delio set up operations in Sydney.

The visit will also be used to champion creativity and culture as part of the Lord Mayor’s ‘Global UK’ agenda, which focuses on growing global trade and investment, encouraging innovation and promoting a rich and vibrant creative economy.

William Russell, the Lord Mayor of London, said:

“Cardiff has firmly established itself as one of the foremost UK innovation hubs with its booming startup sector. With such credentials, I’m here to learn more from those at the heart of this finance ecosystem, which has fast-developed over the past few years.

“In the City, we are determined to tap into the potential of the whole country. Financial services hubs up and down the country play a crucial role in driving prosperity nationwide. Wales and its 136,000-strong sector workforce is a big piece of that puzzle.

“That’s why I’m calling on innovative Welsh firms with international ambitions to join me on my overseas delegations. I’ll be visiting over 20 countries throughout my term to help open the door to investment and global opportunities for the whole of the UK. Our support of Delio in setting up operations abroad is testament to that and we’re hoping to build on this success.”

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.

The UK Partnerships 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.