Friday 12 December
City of London Corporation welcomes more 'joined-up' approach
to financial services
Stuart Fraser, Chairman of the Policy and Resources Committee,
City of London Corporation, said today:
“Bob Wigley and his team have produced a thorough and timely
report. I have been involved throughout as a member of the panel
and I know that the review reflects months of open, pragmatic
debate between experienced practitioners.”
“I support the key recommendations of today’s review, and
particularly the creation of a new organisation under the
leadership of the City of London Corporation to promote London’s
financial services - which will bring a more joined-up approach.
These are difficult times for the City as we face the financial
crisis, tough competition from emerging markets and negative public
opinion. So a strong voice for financial services is more relevant
than ever.”
“The City Corporation has agreed to go ahead and set up the new
board, which, working with the Government and the Mayor of London,
will bring together the best City brains to sustain London’s
position as a world-leading financial centre. The challenges which
confront us in the current economic climate are huge, but with a
coordinated approach, the necessary resources and the right
machinery, we can meet these challenges successfully. This report
sets the path and the new board can deliver the results the City
needs.”
Lord Mayor of the City of London Ian Luder said: “The reputation
of financial services globally has suffered in the current crisis.
This board will take the lead in sustaining London’s credibility as
a world leading centre for international business. ”
Ends
Notes to editors:
- The City of London Corporation: The City of
London Corporation, which provides local government services for
the Square Mile, the financial and commercial heart of Britain,
works nationally and internationally to maintain and enhance the
City as a world-leading international financial and business
centre. Its other special responsibilities and services to London
and the wider UK include the Barbican Arts Centre, the Central
Criminal Court at the Old Bailey, 10,000 acres of open space
including Hampstead Heath and Epping Forest, three wholesale food
markets, two inner-London City Academies, the City Bridge Trust,
economic regeneration programmes in neighbouring boroughs and
acting as London’s Port Health Authority. The Lord Mayor of the
City of London (currently Ian Luder, an eminent tax accountant)
works extensively at home and abroad to promote the City.
- Lord Mayor of the City of London Ian Luder
travels over 90 days a year to promote the UK’s financial services
industry.
Photo of Ian Luder
- Stuart Fraser is Chairman of the Policy and
Resources Committee of the City of London Corporation – the
committee that steers the City Corporation’s relations with
government and sets its policies.
Biography of Stuart Fraser
Photo of Stuart Fraser:
- Press Contacts:
Susanna Howard on 07956 660 802 or
susanna.howard@cityoflondon.gov.uk
Laura Citron on 07884 295 736 or
laura.citron@cityoflondon.gov.uk
See also