TheCityUK newsletter - August 2011


	Can't read this email properly?


	August 2011


	Visit the website \| Contact us


	Forward to a Colleague

Welcome to our August 2011 newsletter
With the holiday period and Parliamentary recess coming to a close, we’re geared up to be entering a busy period of activity. Along with policymaker roundtables with Henry Bellingham MP and Hector Sants, the Lord Chancellor will be giving a keynote speech on promoting UK Legal Services abroad, ahead of the Unlocking Disputes initiative in October. We’re also running a number events at Party conferences, which will focus on how economic growth can be supported in Birmingham, Liverpool, Manchester, and beyond.

Indeed, it’s vital to recognise that the economic contribution of financial and related professional services is not just dependent on the success of London, or the City of London, but on a number of regions right across the UK. Given our remit to support the industry across the UK, much of our work naturally focuses on regions other than London. On TheCityUK's blog this month, I commented on a meeting with business people in Sheffield, and Howard Miller wrote about the importance of all UK regions contributing to economic performance. And on 22 September our work across the UK continues with a seminar in Cardiff, which will include a panel discussion on how the financial services sector sustains jobs and growth. Nearly 50,000 people are employed in financial services in Wales, generating over £3.85 billion in gross value added for the economy. We look forward to our discussions with business people in Wales.

Last month we released our Primary Markets Annual Report, updating you on the broad activities of each Working Group. We’re also releasing regular bulletins on these markets and core sectors, the first three of which – on Brazil, Russia and India – are out now.

There is still time to book your tickets for our Annual Dinner on 11 October, where Financial Secretary to the Treasury, Mark Hoban MP, will be speaking, and to register for our Autumn Debate, at which the future of the financial services industry in Europe will be discussed.

If you would like to know more about our work in overseas markets or across the UK, please do get in touch.

Kind regards,

Chris Cummings
CEO, TheCityUK

Financial services in the UK

Cardiff and Leeds infographics
Our latest infographics focus on Cardiff and Leeds. Cardiff residents think financial services are a key driver of growth and jobs in the region, while 69% of residents in Leeds recognise the contribution of financial and related professional services to the local community.

More infographics

Blog: Boosting growth across the UK
Howard Miller comments on the need to aim for economic growth in all UK regions and across the financial and related professional services industry. He points to the interconnection between different sectors and regions, and the need to support them all.

Read more

Blog: Sheffield - the business voice
Chris Cummings discusses meeting, along with the Lord Mayor, a group of business people in Sheffield. They shared their thoughts on what they want from industry decision makers, and how the strength of the economy could be improved.

Read more

	Nurturing the next generation - One Young World challenge The winner of our One Young World challenge - open to young employees of our member organisations - has been announced. Oliver Thomas, PwC, will be attending the Summit in Zurich next month. Oli will join 1,600 young leaders aged 29 or under, from 190+ countries, to discuss the challenges facing the world, and propose possible solutions. Follow this link to read a blog post by Alan Mak, one of the competition's judges. Alan is one of the delegates of our Next Generation Vision initiative, to be launched in October. Written by 21 young professionals from across the financial and related professional services industry, it sets out a vision for what the industry can be in 10-15 years - an engine for growth and a source of pride for the whole country. Follow this link to find out more about the Next Generation Vision launch event.

	Recovery in business volume, but market trends overall are uneven Our latest quarterly City Indicators Bulletin reports that there was a further recovery in volume of business of UK financial services firms recorded by the CBI/PwC survey in Q2. This was the eighth survey in succession that a rise has been reported and a further increase in business is expected in Q3. But market trends overall are uneven with five indicators rising, seven falling and one flat in Q2 compared with the previous quarter. Read more

Blog: A nation of savvy savers?
Giles Elliott comments on what has changed since the start of the 'credit crunch' in 2007, in particular a growing awareness in the public mind of the need to be credit smart. He discusses the industry's need to understand customers and regain trust in order to drive prosperity.

Read more

	TheCityUK Annual Dinner 2011 Our Annual Dinner on 11 October will be held by kind permission of the Rt. Hon. The Lord Mayor, with a keynote address by a senior political figure. The evening will provide time to reflect on the work done in the year, and to look forward to the year ahead, as well as a chance to meet friends and colleagues. A discounted rate is available to members. Read more

Blog: Time for sensible debate on financial services
Chris Cummings writes from Yorkshire on the need to support the financial and related professional services industry in order that businesses throughout the UK can thrive. He points to the potential damage done by those 'bashing' the industry.

Read more

UK financial services overseas

Brazil Bulletin 1
Brazil is forcast to be the fifth largest economy in the next decade, playing a strategic role in the global economic arena. This bulletin gives details on our Brazil Working Group's activities, along with key regional statistics.

Read more

Russia Bulletin 1
The main challenge for Russia over the next ten years will be to diversify the economy and remove the reliance on oil income. This bulletin gives key statistics on Russia, along with details on our Russia Working Group.

Read more

India Bulletin 1
This bulletin gives the latest details on our India Working Group and key statistics for the region. Recent Group activity includes a member briefing for HM Treasury in advance of the UK/India Economic and Financial Dialogue.

Read more

Blog: India's hot potatoes
Janet Pope writes from New Delhi on the challenges faced by India as it pursues economic growth. Discussing financial, economic and political issues, she suggests that a focus on job creation and building the real economy will create the right conditions for prosperity.

Read more

	Global private equity up 62% in 2010 - further increase seen in 2011 as investor sentiment improves Nearly $180bn of private equity was invested globally in 2010, up 62% from the previous year but still down 55% on the peak in 2007 according our Private Equity 2011 report. Activity in the sector looks set to build on this recovery and top $200bn in 2011 as investor sentiment continues to improve. Over the next five years, some $800bn in loans extended on existing private equity investments are due to be repaid or refinanced. There has already been a considerable deferring of debt maturities to 2014 and beyond, with the high-yield bond market filling the financing gap left by the decline in leveraged loan issuance. Private equity firms are also contributing a bigger proportion of equity into their deals. Read more

In this issue

One Young World Challenge >>
City Indicators Bulletin >>
TheCityUK Annual Dinner >>
Brazil Bulletin 1 >>
Russia Bulletin 1 >>
India Bulletin 1 >>
Private Equity 2011 >>

Quick links


	About us >> Latest events >> Latest research >> Latest articles >> TheCityUK blog>>

Upcoming events

	8 September 2011 Policymaker roundtable with Henry Bellingham MP This roundtable discussion with Henry Bellingham MP, FCO Parliamentary Under Secretary of State with responsibility for Africa, will be an opportunity to input into the Foreign Office’s “Commercial Diplomacy” initiative and to discuss opportunities for UK financial and related professional services in Africa. Read more 12 September 2011 Policymaker roundtable with Hector Sants This roundtable discussion will be an opportunity to discuss the G20 agenda for financial regulation as well as changes in the UK and EU financial regulatory architecture. Read more

	14 September 2011 The Lord Chancellor on promoting UK Legal Services abroad This event will focus on the Government’s Action Plan to encourage overseas commercial clients to make use of UK legal services. The event will also include information on the industry-led ‘Unlocking Disputes’ initiative to be launched at the Rolls Building in October. Read more 18 September 2011 Liberal Democrat Party Conference fringe event with Sharon Bowles MEP Stimulate or stagnate? Ensuring EU financial services reform supports economic growth across the UK. Read more

	19 September 2011 Liberal Democrat Party Conference policymaker roundtable This roundtable discussion will be an opportunity to discuss how financial and professional services can support economic growth in Birmingham and beyond. Read more 22 September 2011 Cardiff Seminar Please join us for our Cardiff seminar, ‘Strength through diversity: how the financial services sector sustains jobs and growth’. Read more 26 September 2011 Labour Party Conference policymaker roundtable The power of clusters: how financial services can support economic growth in Liverpool and beyond. Read more

	26 September 2011 Labour Party Conference policymaker roundtable The power of clusters: how financial services can support economic growth in Liverpool and beyond. Read more 26 September 2011 Labour Party Conference fringe event with Chris Leslie MP The power of clusters: how financial services support jobs and growth across the UK. Read more 27-28 September 2011 GCC Infrastructure and Finance 2011 conference This two-day event will provide a comprehensive analysis of financing and project development opportunities in the GCC power & water, transport and social infrastructure sectors. Read more

In the press

	30 August 2011 Global financial strategy GFS News Read more 29 August 2011 Muslims in Britain demand sharia-compliant student loans Hudson New York Read more 19 August 2011 Reaction: Treasury Committee report on Private Finance Initiative funding Fresh Business Thinking Read more 18 August 2011 EU transaction tax ‘would damage UK’ ePolitix Read more 17 August 2011 Private Equity Investments Seen Up 11% In 2011 MarketWatch Read more 17 August 2011 UK private equity hub grows in prominence Citywire Read more 31 July 2011 Job cuts show bonus benefits City A.M. Read more

Want to unsubscribe or change your details?

Copyright Terms & Conditions Legal notices