About us
We make sure that government policy supports financial services initiatives with high growth potential.
The Financial Services Trade and Investment Board (FSTIB) is a partnership between government and industry. The board meets on a quarterly basis to develop high-growth initiatives such as Renminbi internationalisation, green finance and fintech. Its aim is to strengthen Britain’s position as the centre of global finance and deliver jobs and growth across the country.
Who we are
The FSTIB was first formed by the Chancellor in Budget 2013.
In July 2015, the Chancellor re-launched the FSTIB with a new board comprised of senior representatives from across government and industry.
The Economic Secretary to the Treasury, Simon Kirby, chairs the quarterly board meetings.
Members include:
- Helena Morrissey, Chair, Newton, and Chair, Investment Association
- John McFarlane, Chairman, Barclays
- Inga Beale, CEO, Lloyd’s of London
- Nathan Bostock, CEO, Santander UK
- Miles Celic, CEO, TheCityUK
- Xavier Rolet, CEO, London Stock Exchange
- Sir Gerry Grimstone, Chairman, Standard Life
- Mark Garnier, Parliamentary Under Secretary of State, Department for International Trade
- Charles Roxburgh, Second Permanent Secretary, Financial Services, HM Treasury
- Deborah Bronnert, Director General, Economic and Consular, Foreign and Commonwealth Office
- Katharine Braddick, Director, Financial Services, HM Treasury
- Rob Ward, Deputy Director, Financial Services, HM Treasury
Priority initiatives
Over the next two years, the new FSTIB will develop 7 high-growth initiatives:
- capital markets (including green finance and Islamic finance)
- insurance
- investment management
- fintech
- UK-China financial services
- UK-India financial services
- UK-US financial services
Achievements
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Here’s a summary of the FSTIB’s major achievements so far:
- establishing the UK as the centre for Renminbi (RMB) business outside China
- developing the UK as a western hub for Islamic finance
- delivering the Investment Management Strategy to create a simpler tax regime for the sector
- launching the Insurance Growth Action Plan (GAP) to expand British insurers into key emerging markets
- cementing the UK’s world-leading position in fintech
Read more about the FSTIB’s achievements in the annual report.
Economic and financial dialogues
The work of FSTIB is a key part of the government’s successful economic and financial dialogues with major emerging markets:
UKTI Financial Services Organisation
The FSTIB works closely with the Financial Services Organisation (FSO) to keep the UK as a world-leader in financial services. The FSO is a key delivery partner for the FSTIB’s initiatives.
Read more about their work on UK financial centres of excellence, including the south coast of England and south Wales.