The City of London Corporation met with 13 City firms yesterday [30 November] to help them to do more to tackle youth employment in London.

The capital has the second highest rate of youth unemployment in England – and the City of London Corporation has committed to supporting City firms to reduce this figure.

The 13 businesses met with representatives from the Corporation’s responsible business team and its charitable funder, City Bridge Trust, to explore what more can be done to help young people into work and to develop more responsible business practices in the City.

The event was hosted by Vanquis Bank in partnership with the City of London Corporation at 20 Fenchurch Street. The building is supporting its local communities through the 20 Fenchurch Street Legacy Fund, a partnership between Land Securities, Canary Wharf Group, East End Community Foundation and 20 Fenchurch Street businesses. The Fund has made inaugural grants of up to £20,000 to support five community groups in East London.

Former Lord Mayor Sir Alan Yarrow said:

“Businesses realise that they have a huge part to play in the community in providing young people with aspiration, the skills and the opportunity to find good jobs. We have already seen the impact on inner London schools of business involvement. This is the next stage of involved outreach".

“City firms need to be good role models, target their support, work more closely together and evaluate outcomes to ensure effectiveness. All of this combined can help us tackle youth unemployment head on.”

Keith Bottomley, Elected member at The City of London Corporation said:

“We are committed to reducing youth unemployment and ensuring that young Londoners have the skills and opportunities to succeed in today’s fast-paced economy.

“This event is a great example of how city institutions can work together to help increase the employability of young Londoners through both employer engagement and charitable support.”

Paul Rodford, Vanquis Head of Corporate Affairs, said “Vanquis is delighted to host such an important event bringing together firms who can make a real difference and create opportunities for young people through their activities in the community”.

ENDS

Businesses and partners in attendance include: CISI, DWF LLP, Ecclesiastical Insurance Group, Howden Insurance Brokers Ltd, Land Securities, Liberty Speciality Markets, Markel UK, Risk Management Solutions Ltd, Royal London Asset Management Ltd , Royal London Mutual Insurance Society Limited, RSA Insurance Group PLC, Tokio Marine Kiln, The London Institute of Banking & Finance, Mencap, The Brokerage City Link , Partnership for Young London, City of London School, Finito Education Limited, Vanquis Bank, Action on Disability , London Youth, The City Bridge Trust, Heart of the City, The Lord Mayors Appeal.