South Wales Financial Centre of Excellence launch

The South Wales Financial Centre of Excellence initiative has been launched by the Economic Secretary to the Treasury, Harriet Baldwin, at the offices of the Admiral Group in Cardiff.

It will see HM Treasury, UK Trade & Investment, the Welsh Government, financial sector trade body TheCityUK, local educational institutions and businesses, work together to promote South Wales to foreign financial services companies.

Economy Minister Edwina Hart said:

“The Centre of Excellence initiative is very welcome and complements existing Welsh Government activities to promote Wales as a great location for international business investment.

“Cardiff is not only one of the UK’s fastest growing locations for financial and professional services outside of London, but also one of the most competitive locations. Today’s launch supports our ambitions to grow the sector and attract new business to the region to join the growing number of national and international companies that already have thriving operations in Wales.”

Dr Catherine Raines, Chief Executive of UK Trade & Investment, said:

“The UK’s financial and business services sector is well-known for being world-leading. It’s less well known that its reach extends far beyond the City of London to places like Cardiff where there is a highly-skilled workforce and strong transport links.

“Today’s event, in partnership with the Welsh Government as well as industry, is an important way of us working together to help promote the opportunities in the sector in all parts of the UK.”

Chris Cummings, Chief Executive, TheCityUK, said:

“Financial and related professional services are thriving in Wales. Strong hubs like Cardiff help to increase the global appeal of London, broadening the talent pool and offering growth opportunities to firms looking invest in the UK.”