15/10/2021

City Of London Connection To Boost Investment And Innovation

Belfast Lord Mayor Councillor Kate Nicholl has welcomed Policy Chair of the City of London Corporation, Catherine McGuinness to the city, to help harness the full potential of the region's growing FinTech and RegTech cluster.

Belfast was recognised earlier this year as one of the key centres for UK FinTech and as an attractive destination for inward investment by the Government's independent Kalifa Review. It's also rich in the innovation and talent required to sustain a thriving financial and professional services sector.

During her visit, Catherine McGuinness will meet with Belfast firms and policy leaders to identify ways they can use London as a launchpad for growth.

Lord Mayor Councillor Kate Nicholl said: "It's a real pleasure to host our City of London colleagues and to share the ambitious plans we've drawn up with our partners, Innovation City Belfast. We're working to make Belfast a globally significant destination for innovation, driving inclusive growth by creating more and better jobs and improving quality of life.

"It's a vision that will be underpinned by £350m Belfast Region City Deal investment; the existing ecosystem and infrastructure, and of course our incredible talent pipeline. We can achieve so much more together - by collaborating, harnessing our knowledge, resources and connections."
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Policy Chair of the City of London Corporation, Catherine McGuinness, said: "The City of London has special and historic links with Northern Ireland, on which we can build for our mutual benefit. We also have areas of common interest.

"In particular, Northern Ireland's innovative financial services clusters and tech expertise have huge potential to drive growth and innovation that can benefit households and businesses and add to the overall strengths of the UK's financial and related professional services proposition.

"We'd like to see continued cooperation with the City of London Corporation help showcase Northern Ireland's successes in this area and act as a springboard to investment and growth."

The FinTech sector will have a vital role in driving economic growth and supporting the UK's strong sustainable recovery. Similarly, regulation technology (RegTech), is an emerging sector with enormous potential to scale, alongside established strengths like cyber security.

Northern Ireland is home to one of the largest hubs for financial and professional services in the UK, with 35,000 people employed in the sector, generating billions for the economy.

With the Belfast Region City Deal being implemented and plans for a Belfast Innovation District and Smart District, the City Corporation will look at how it can collaborate more closely to support the promotion of the new opportunities being unlocked.

The visit will also be used to promote the City of London Corporation's Global UK campaign to position the UK as a world leading place to do business within financial and professional services, which places inclusion and sustainability at its centre.

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