11 September 2009
City’s Mansion House conference to drive agenda on social
investment
Promoting financial innovation and investment for the social
sector
The City of London Corporation and Social Finance together host
a social investment conference at the Mansion House in the heart of
the Square Mile on Tuesday 15 September.
Investors, intermediaries (including private bankers and wealth
managers), policy-makers and third-sector organisations will come
together to drive the agenda on social investment is the first such
event ever held in the UK.
Pioneering City figure Sir Ronald Cohen, who gives the
conference key notes speech, says: “The current economic downturn
highlights the need for new methods of financing social change.
London has been at the forefront of developing a new
social-investment asset class – a social investment bank - and
certainly has the financial expertise and infrastructure for the
market to thrive.
“This is an idea whose time as come and one that has the
potential to replicate the success of the venture capital industry
- which became a driving force of the UK economy
– this time in helping resources flow to social
investment.’
Lord Mayor of the City of London Ian Luder is also speaking at
the event. He says: “The conference will encourage forward
thinking on how innovative financial instruments can be used to
better align the interests of government, investors and social
sector
organisations to achieve the social impact we all want.
They can also provide the vital resources needed by social sector
organisations to achieve their mission in deprived communities.
“By backing today’s conference, the City of London Corporation
demonstrates its long-term commitment to helping to mainstream
social finance - the part of financial services that all would
agree is socially beneficial and ‘useful’.”
Says Alastair Ballantyne, Director of Social Finance: “The case
for the development of a social investment market is compelling and
there are signs that this is increasingly widely appreciated by
investors. This should lead to growing opportunities to raise funds
for well structured investments for social projects.
“Today’s conference will raise issues and challenges concerning
the development of the social investment market with investors and
financial intermediaries – to discuss exactly how we can overcome
these challenges and maximise opportunities moving forward.”
The conference will include panel discussions entitled:
Development of a Market, Innovation to Build the Market and
Engaging the Investor Community. Speakers include Sir Ronald,
the Rt Hon Angela Smith MP, Minister for the Third Sector, Colin
Grassie, CEO, Deutsche Bank and Rachel Lomax, Chair of NCVO
Commission on Funding for the Voluntary Sector.
Read the Lord Mayor's letter to FT
Ends
Notes to editors
City of London Corporation:
The City of London Corporation, an elected body with responsibility
for local authority services inside the Square Mile, is committed
to maintaining and enhancing the status of the business City as a
world-leading international financial and business centre. It is
engaged in many partnership and regeneration projects across wider
London, working with national and other local government – as well
as business and the not-for-profit sector. It also provides many
special services for London and the UK.
Social Finance:
Social Finance’s ambition is to transform the ability of the third
sector to respond to society’s changing needs by enabling greater
access to a variety of investment instruments. It is building a
pioneering organisation to develop financial products that marry
the needs of investors and the sector, support organisations in
their efforts to deploy and raise capital, and research social
investment markets and opportunities. It is authorised and
regulated by the FSA.
More details on
www.socialfinance.org.uk
Press contact
Greg Williams, Head of Press
City of London Corporation
020 7332 2564, 07889 167 205