City of London Corporation rep in Derry visit to ‘deepen’ partnership

Policy Chair of the City of London Corporation, Catherine McGuinness, was in Derry at the weekend to “deepen” the body’s partnership with NI and help to harness the full potential of the region’s growing fintech and regtech cluster.

Wednesday, 20th October 2021, 6:35 am
Updated Wednesday, 20th October 2021, 6:35 am
Catherine McGuinness.

The North is considered to be rich in the innovation and talent required to sustain a thriving financial and professional services sector.

The fintech sector will, it’s believed, have a vital role in driving economic growth and supporting a strong sustainable recovery.

Similarly, regulation technology (regtech) is an emerging sector with enormous potential to scale in the North, alongside established strengths like cyber security.

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During her visit, Catherine McGuinness met with local firms and policy leaders to identify ways Northern Ireland can capitalise on their success and use London as a launchpad for growth.

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

With the Derry & Strabane City Deal being implemented, the City of London Corporation is keen to 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.

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.”

Mayor of Derry City and Strabane District Council Alderman Graham Warke has welcomed the visit.

“The City of London Corporation continues to be a strong partner and supporter of the North West City Region and I would like to extend my thanks to them for their continued support in raising our profile in the City of London,” the Mayor said.