Young Talent Presents Government with ‘Next Generation Vision’ for UK Financial Services

LONDON, October 20, 2011 -

21 young professionals from the financial services sector will today present their Next Generation Vision for the future of UK financial services to key industry figures, senior politicians and regulators at the Media Centre in Millbank Tower. The presentation marks the public launch of a long-term project to set the future direction of the UK financial sector.

The Next Generation Vision (www.nextgenerationvision.co.uk/) was conceived by TheCityUK, the independent body promoting UK-wide financial and related professional services. In creating the Next Generation Vision, TheCityUK has brought together the best young talent in finance to develop a shared understanding of where the financial services industry stands today, and form a united vision of where it can be taken over the next 10 to 15 years.

Working as one, the 21 delegates have identified six key areas through which their ideas can be put into practice:

Moral Code: Creating a standardised code that sets a global benchmark for the financial services industry, and is monitored and enforced.

Sustainable Value: Creating commercial value that is consistent and for the long term, while also investing in communities and supporting innovators.

Partnership: Building strong partnerships with customers and government through greater interaction and debate.

Transparency: Better explaining financial products and assessing the industry through regular independent audits.

Education: Enhancing financial literacy in schools and providing surgeries to support adults.

Global Competiveness: Creating a strong business environment and infrastructure to support the financial services industry and launch international talent academies that work in partnership with UK universities to develop the talent the sector needs.  

Stuart Popham, Chairman of TheCityUK, commented “I am extremely proud of the Next Generation Vision. It is a forward-thinking piece of work designed by future leaders of the financial services industry that identifies a path to a more sustainable future, not just for the sector, but broader society which relies on it to function efficiently.

“The overriding theme that emerges is that the next generation is committed to making financial services an industry that makes the whole nation proud and prosperous. Their vision will not be achieved overnight, but over time and through behavioural change, firm-by-firm initiatives and the evolution of priorities for the sector.”

Learn more about the Next Generation Vision at www.nextgenerationvision.co.uk/

About the Next Generation Vision

The Next Generation Vision was conceived by TheCityUK, the independent body promoting UK professional services and financial services. It comprises of 21 delegates in their 20s and 30s from retail and wholesale banking, insurance, asset management, accountancy, law and other professional services.  

The Next Generation Vision identifies what the financial sector can become and is ambitious in its goals, while also practical in its scope and suggestions. Its aim is to harness the UK financial services industry and the talent within it to society’s interest, so that every individual, business and the nation as a whole can prosper.

For more information on the Next Generation Vision, visit www.nextgenerationvision.co.uk/who-we-are

About TheCityUK

TheCityUK is the independent membership body promoting the UK’s financial service industry and related professional services industry. It was created with the support and initial financial backing of the City of London Corporation.

TheCityUK is the cross-sector voice for the UK financial services community working to build a deeper pool of support across the UK, promoting UK financial services overseas and contributing to the regulatory and trade policy debate.

The purpose of the organisation is to partner prosperity - supporting the competitiveness of UK financial services and protecting their considerable economic contribution. TheCityUK co-ordinates and facilitates the contribution of its members to drive and deliver its priorities.

Its UK-wide financial services membership covers all sectors in the financial services industry and the related professional services industry. It is independent and politically neutral.

Find out more about TheCityUK at www.thecityuk.com/

For further information please contact: Tim Skelton-Smith/Rebecca Greeves, TheCityUK, Tel: +44(0)20-7776-8998/+4490)20-7367-0002