Cardiff promoted to CISI Board members as key business location for financial services sector

By Lora Benson | May 21, 2015

Influential director-level decision makers from globally significant banking and wealth management companies are in Cardiff this week and will hear at first hand what the city has to offer businesses in the financial services sector.

They are all Board members of the Chartered Institute for Securities & Investment (CISI) which is holding its full Board meeting in Cardiff on Thursday which is the first time they have held their meeting in Wales.

The CISI is the largest and most widely respected professional body for those who work in the securities and investment industry in the UK and in a number of financial centres globally, with 40,000 members worldwide.

The Welsh Government and Cardiff City Council are maximising this opportunity by arranging an inward investment ‘experience’ to promote the Cardiff Capital Region as the location of choice for financial services companies looking to expand or relocate.

Both First Minister Carwyn Jones and Economy Minister Edwina Hart will meet Board members.

Mrs Hart is hosting a tour of the Senedd for the CISI Board and attending a working lunch at Cardiff Marketing Suite where Ken Poole Head of Economic Development at  Cardiff Council will use the large scale model of the city to highlight the Central Cardiff Enterprise Zone and pinpoint a number of significant planned developments. Members of the Enterprise Zone Board and the Financial and Professional Advisory Panel will be present.

The First Minister is attending the inaugural CISI Wales Committee dinner in Cardiff Castle.

The CISI Board, whose Chairman Alan Yarrow, is currently Lord Mayor of the City of London, meets once a year in regions outside of London and this is the first time they will have been given an inward investment experience in any region of the UK. The key message is that ‘Wales is open for business’ and a great location for financial businesses.

Economy Minister Edwina Hart said: “It presents the perfect opportunity to engage with some of the most senior and influential people in the financial and professional services sector and fits with our strategy of targeting businesses outside of Wales.

 “Board members can learn more about what Cardiff can offer businesses and the hard facts behind our proposition that the Cardiff Capital Region is the location of choice for financial companies looking to expand or relocate.”

Simon Culhane Chartered FCSI and CISI CEO said: “With a growing Welsh CISI membership, we are very pleased to be supporting the CISI Welsh committee to work with education providers and stimulate interest in finance as a positive and exciting career choice.

“We are also pleased to support the Welsh Government in its initiative to grow Cardiff city as a key financial services centre by ensuring that those CISI members working in the sector are professionally qualified to a benchmark level, adhere to a Code of Conduct and maintain and update their learning annually.”

Ken Poole, Head of Economic Development, Cardiff Council, said: “The City of Cardiff Council is delighted to welcome the Chartered Institute for Securities and Investment to the City.  The Institute provides a significant role for those who work in the financial and investment industry and their visit to Cardiff reflects the growing importance of the financial services sector in the City and its region.

“There are over 50,000 people employed in financial and professional services and the sector is at the heart of both the Welsh Government and City of Cardiff Council strategy to regenerate the economy of the City region and to provide a significant level of job creation. This is reflected in the designation of the Cardiff Central Enterprise Zone as a leading location for financial and professional services companies.

The visit of the CISI will also give an opportunity to existing members from outside of Wales to appreciate the importance of the financial and professional services sector and help us in further promoting the City as a base for investment”.