1 / 14

FINANCIAL SERVICES

LONDON’S IMPORTANCE AND REGIONAL PROFILE. FINANCIAL SERVICES. Supported by:. Financial Services: London Therese Reinheimer-Jones: LONDON REGIONAL DIRECTOR. CONTENTS. London’s unique position and its importance Key business districts and focus Skills mix Employer ‘fit’ and next steps.

floria
Download Presentation

FINANCIAL SERVICES

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. LONDON’S IMPORTANCE AND REGIONAL PROFILE FINANCIAL SERVICES Supported by:

  2. Financial Services: LondonTherese Reinheimer-Jones: LONDON REGIONAL DIRECTOR

  3. CONTENTS • London’s unique position and its importance • Key business districts and focus • Skills mix • Employer ‘fit’ and next steps

  4. London’s uniqueness & strengths • Financial and physical infrastructure • Global trading heritage and reputation • Innovative and talent pool of expertise via educational attainment and skills development • Widely respected professional and support services • ‘Cluster effect’ amongst companies generating critical mass )

  5. London Financial Services Fast Facts • 34% global share of foreign exchange daily turnover • LSE 29% share of global foreign equities turnover • 70% of all eurobonds traded in London • Leading location for IPOs in 2008 with 9% global share • London 15% of global trade in commodities via Liffe, LME & ICE Futures Europe • 353,000 ‘City’ jobs at the end of 2007 BUT cannot afford to rest on laurels and suffering as global financial system under strain = opportunity as change is what London is good at

  6. London’s 5 major business districts

  7. Central Business District (CBD) Zone plus Canary Wharf covers 10 miles employing 750k people in finance and business services Source: Cabinet Office Prime Minister’s Strategy Unit London Project (July 2004)

  8. Issues likely to impact on medium term growth • Ability of local people to feel engaged in their community • Need for a skilled workforce – reflecting local diversity of the population • Access to finance • Regulation • Economic situation ...but skills building is long term

  9. Geographical source of City non-graduate employees

  10. London skills talent • NSAFS Tower Hamlets success in placing 250 students into employment in the City and Canary Wharf since launch in January 2008 • People with the lowest level of skills not necessarily lacking in ability but opportunity • Must be flexibility in the development of communities and infrastructure so that skills providers can respond to business needs Source: FT 26 November 2008 on the London Thames Gateway and skills

  11. Skills Mix • Hard e.g. statistical analysis and technical writing • Soft e.g. communication, leadership and teamwork • ‘Globalist’ e.g. foreign languages, cultural awareness and ability to manage people and projects across international financial time zones

  12. Financial Services: a ‘big’ industry • Directions – created by the FSSC http://www.fssc.org.uk/129_13.html?i=0&l1=true • http://www.efinancialcareers.co.uk/ • Individual banks often have profiles of ‘a day in the life of’ • www.nsafs.co.uk • Don’t forget small to medium enterprises – not just the big companies – a large proportion of financial services is made up of SME’s. • Trade associations for example ‘The British Bankers Association’ , CISI and the CII. • Not traditional qualifications but more professional qualifications such as CEFA

  13. Recession v New Talent • There is a real need to rebuild confidence among potential entrants to the industry, including students, so there's a job to be done in universities and colleges as well as on the high street with customers. • I think the industry breaks down into different sectors as to how successful they are at recruiting talent. Traditionally the banking industry has been way ahead of the insurance and financial planning industries. In financial planning there is a real demographic problem arising where there are a lot of people reaching retirement age and not a lot of people coming into the business. Helping people to manage their finances effectively, with less reliance on the state, is absolutely critical. So anything we can do to make financial planning an attractive career path for people is vitally important. John Tiner – Chief Executive Resolution Group

  14. Questions and further details.....

More Related