Norwich's International Profile
World-class campaign gathers pace
Efforts to promote Norfolk's financial services across the UK and the rest of the world will need to be at their most buoyant and upbeat to balance any loss of momentum caused by dramatic cuts in public spending.
Fig intends to step up its endeavours and find new ways to further develop the sector's international profile.
In recent years, Fig Director Marjorie Eade has spent ever more time ensuring that the voice of the Norfolk financial sector is represented at a range of influential groups and events.
“The strength of the financial service industry in the Norfolk area has been widely acknowledged through those groups and publications like the Financial Times Special Report and it translates into a global message,” said Marjorie.
“There will be many changes ahead with the development of the new overseas promotions body, TheCityUK, with the ending of Regional Development Agencies and the impact of government cuts on organisations like UKTI,” she said.
It was an issue raised at the summer meeting of the UKTI Regional Forum, of which Marjorie is a member.
While the impact on some members may currently be uncertain, the forum agreed that it must consider whether its future role should change and how it could work alongside TheCityUK and UKTI.
Last year the group successfully produced 3,500 booklets and a brochure that were taken by every UK Embassy, Consulate and High Commission in the world. And it is now looking at publishing more marketing material.
Marjorie suggested that, as most regions produce a regular update for their area, it should be combined into a quarterly publication, an idea which will be considered at the next Regional Forum in Bristol in October.
The meeting, at Mansion House, was chaired by Mark Chadwick of Professional Liverpool and addressed by the Lord Mayor of the City of London, Alderman Nick Anstee, who is ambassador for all UK-based financial and professional services. He emphasised the importance of the regions to UK financial services
Earlier, Marjorie was invited to the launch of TheCityUK which was attended by senior figures from the Square Mile and the City of London Corporation.
She took the opportunity to question the lack of insurance representation among members of the three committees set up for its key areas of responsibility - overseas promotion, domestic promotion and regulation.
In July, Howard Miller, TheCityUK's Director of UK Strategy, visited Norwich and spoke to Fig Board members about its role in the domestic promotion of the sector which he said was still developing. He aimed to work in partnership with Fig to support the financial industry.
TheCityUK's Advisory Council comprises some of the industry's most senior practitioners. The Lord Mayor of London is the President and Lord Sharman, Chairman of Aviva, one of its sponsors, is a member of the Advisory Board.
Marjorie also accepted an invitation to the Lord Mayor of London's annual Gresham Lecture at Mansion House where he considered many critical issues facing financial services and even asked the question of whether ‘the City” had had its day. But he concluded it had not.
Marjorie raised the question of the significance of Corporate Social Responsibility contributions of financial services, saying it was extensive in Norwich and should be better acknowledged.
At the London launch of the FT's Special Report on the region, sponsored by Norfolk County Council, Marjorie asked for Michelle Malone-Harris, of UKTI Financial and Professional Services team in London, to support Norfolk's ‘world class' strategy and she attended and met industry representatives.
“It added yet another voice to those promoting our world class skills and experience in Norfolk - something we will continue to build in,” said Marjorie.
Passage to India for would-be traders and investors
First hand advice on trade and investment in India is available to Norfolk's financial companies following a visit to Fig by Sheela Kulkarni.
As part of the British Deputy High Commission in Mumbai and head of the UKTI Financial Services team in India, she is able to outline the wide range of support available from UKTI to financial companies keen on doing business there.
And her meeting will be followed later this year with a visit to the UK by the Indian Insurance Regulator with Fig invited to host an event where he can address the local industry.
Many niche financial companies in Norwich could create a market to sell their services in India, Sheela suggested. She explained that there were naturally great opportunities for exporting services related to call centres as well as financial services training.
She also stressed the importance of high-level introductions in India which she could help provide, offering examples where she had brought together key decision-makers from several target Indian businesses for a UK client.
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