Leading figures from across the UK-based financial servicesindustry gathered today (12 May) to discuss TheCityUK"s vision forthe financial services industry. TheCityUK is the new, independentmembership body dedicated to promoting the UK financial and relatedprofessional services at home and overseas.During the morning briefing, further details on TheCityUK'sgovernance and organisational capacity were provided, and thedeveloping work programmes of its core three committees " DomesticPromotion, Overseas Promotion and International Regulatory StrategyGroup " discussed.This included an interactive pollingsession focused on identifying the key priorities for TheCityUK"sprospective members.Details of the Advisory Council, which fulfils an oversight roleand is chaired by Sir Win Bischoff, were presented. TheAdvisory Council has members from all parts of the industry,including the chairman of Barclays Marcus Agius, Santander"s CEOAntonio Horta-Osorio and the senior partners of the top fouraccountancy firms (the full list is available on the new websitelaunched today atwww.thecityuk.com).Findings from recently commissioned YouGov research werepresented. The research shows there is an overwhelmingrecognition from the public of the importance of the financialservices sector to the success of the UK economy " 84% agreed thata successful financial services sector in the UK is important forthe economy. 70% of the financial services employees thatparticipated in the survey said that people outside of the industrydo not really understand how important the industry is to the UK.

There was strong public support for government policies that led tobetter regulation rather than more regulation (67% agreed) andensured the UK is an attractive and competitive place to dobusiness (55% agreed). Highlighting the need for a bodysuch as TheCityUK, survey participants thought that the industrycould improve its reputation by showing how the UK benefits frombeing a leading financial services centre and explaining the valueof financial services to the economy.

The body, which is due to be fully up and running this summer,also unveiled a report on the industry"s vital role in supportingthe UK economy, as well as meeting global challenges such asclimate change and global economic development. The report isalso available on the website.Stuart Popham, TheCityUK's chairman and Senior Partner at thelaw firm Clifford Chance, said:"TheCityUK has made great strides in developing the structuresand attracting the industry support needed to promote the interestsof the financial services sector both here and overseas.

"Today's briefing will help us to build on this momentum bycharting the issues TheCityUK"s prospective members would like toaddress over the coming years.

"All corners of the UK-wide financial services industry need tospeak with a single voice if we are to meet the challenges, andindeed opportunities, that face us in this post-crisis world.

"TheCityUK is ready and able to deliver on this agenda throughpartnership with our member organisations."Stuart Popham and Director of TheCityUK John Ingamells addressedtoday's briefing, as did several industry leaders. Among thosewere: Lord Mayor Nick Anstee, City of London Corporation PolicyChairman Stuart Fraser, Mayor of London Boris Johnson (via apre-recorded video), Lloyds Banking Group Chairman Sir WinBischoff, Scottish Financial Enterprise Chairman Mark Tennant,former LIFFE Chairman Andre Villeneuve and HSBC's Debt Finance& Advisory Chairman Robert Gray.

TheCityUK will meet all of the recommendations set out in thereport produced by the group chaired by Bob Wigley in December 2008for Boris Johnson, Mayor of London, and the report produced in May2009 by the Financial Services Global Competitiveness Group chairedby Sir Win Bischoff for Alistair Darling, Chancellor of theExchequer. Working in partnership with existing trade bodies andindustry representatives, it will have a clear agenda to coordinateand lead the promotion of the entire industry in the UK and aroundthe world.

John Ingamells, Director of TheCityUK, added:"TheCityUK encompasses three different work streams and we aredevoting the resources needed to succeed on all fronts.

"Many organisations have signed up to our vision of acoordinated promotional effort, which can deliver tangible resultsthrough a more efficient, streamlined process.

"Today's briefing will showcase some of the initial results wehave achieved, and hopefully inspire the industry to joinTheCityUK."The industry briefing takes place at Westminster Central Hallthis morning following on from a successful event withrepresentatives from the financial services sector in London onNovember 19, 2009.

EndorsementsThe fast"growing countries I visit around the world are alwayseager to work with London"based firms and institutions, and rightlyso " we must do all we can to enhance our well"deserved, andhard"earned, international reputation for excellence. TheCityUKwill help facilitate this by strengthening the bonds between the UKand our global partners and by ensuring we are in a position tocontinue attracting substantial investment and the top talent fromall over the world. Alderman Nick Anstee, Lord Mayor of theCity of London and President of TheCityUKLondon faces a real challenge to retain its internationalcompetitiveness and position as the capital of finance. Thefinancial sector makes a huge contribution to both London and theUK"s economy and funds so many of the other industries that makethis the vibrant and creative city we have today. In thesedifficult times, TheCityUK now has the important task of restoringthe reputation of the country's financial services and successfullypromoting the sector internationally. I am confident the sectorwill rise to this great challenge in the years ahead under theleadership of TheCityUK. I encourage financial firms to sign up tothis vital initiative. Boris Johnson, Mayor of LondonThis crisis has deeply shaken public confidence in key parts ofthe financial services industry. We urgently need to rebuild thatconfidence, with a fresh approach to promoting the industry andexplaining its value, both overseas and domestically. It is tooimportant to the UK to neglect or delay this task much longer.

Fortunately there is widespread consensus on the way forward.

Industry leaders and government are all agreed that we muststrengthen promotional efforts. TheCityUK offers us the new,efficient structure we need to do this. It should reduceduplication by rationalising and consolidating resources from theprivate and public sectors, and from London and the regions. Forour part, UK"based firms must also step up to the challenge assolid " but not uncritical " supporters of this initiative. SirWin Bischoff, Chairman, Lloyds Banking Group plc and Co"chair of the report, "UK international financialservices " the future"I am delighted to play my part in the creation of thisindustry"led, strategic, properly resourced body whose job will beto promote the UK"based financial services industry internationallyand domestically. TheCityUK will ensure London positions itself toremain the leading global financial centre by anticipating andpreparing itself for emerging financial sector trends, bysystematically targeting and attracting the organisations whichshould have UK representation, including banks, insurancecompanies, hedge funds, asset managers and private equity firms,and by highlighting any necessary central and local governmentpolicy initiatives. Bob Wigley, Financial Services OperatingPartner, Advent International plc and Chair of the report, "London:Winning in a Changing World"The City of London Corporation is proud to have helpedfacilitate the creation of this body to support and promote thework of the whole of the UK"based financial services industry inthe UK and across the world. Good faith and trust sit at the heartof the financial services industry and I am confident TheCityUKwill help restore public confidence by reaffirming our reputationfor competence, responsibility and trustworthiness. StuartFraser, Chairman of the Policy and Resources Committee, The City ofLondon CorporationFrom the outset of this initiative almost a year ago IFSL hasconsistently expressed its support for the proposed neworganisation to strengthen the promotion of the UK"based financialservices industry. IFSL is determined to contribute to theeffectiveness of TheCityUK by bringing to it the support of itsbroad"based membership of financial services businesses along withits well"established capability for delivering internationalpromotional activity and publishing research to spread awareness ofthe international performance of the sector. IFSL is confident thatTheCityUK will fulfil its objectives and looks forward to beingpart of its success. Lord Levene of Portsoken KBE, Chairman,Lloyd's and Chairman, IFSLI fully support TheCityUK and look forward to working with themto deliver a step change in how the sector promotes itselfoverseas. Lord Davies of Abersoch, Minister for Trade,Investment and Small BusinessThe UK is the largest international centre in the world forbanking and this has made, and continues to make, a substantialcontribution to the economy. TheCityUK initiative has an importantrole to play in helping sustain and promote not only banking butfinancial and professional services generally and I am delighted togive it my support. Angela Knight, Chief Executive, BritishBankers" AssociationScotland has a strong track record of providing the innovationand know"how that has served customers so well around the globe.

Given the opportunities now presented by emerging, high growtheconomies, especially in Asia, a co"ordinated approach is vital ifScotland and the rest of the UK are to be successful in promotingour world"class expertise. The future of Scotland"s financialservices industry also depends on a successful City of London.

Together we need to work with other European centres to ensure asuccessful Europe which looks outwards not inwards. We are acutelyaware of the need for change in our industry, and are working hardto learn from the past. TheCityUK is part of this " it is the rightinitiative at the right time. It will maximise resources and focuseffort, and I and Scottish Financial Enterprise will give it ourfull support. Mark Tennant, Chairman, Scottish FinancialEnterpriseNever before has it been so important for the whole of thefinancial services industry across the UK, and its manyrepresentative bodies, to work together to promote our expertisearound the world and help shape the global partnerships andenvironment so important to our economic prosperity. TheCityUK willprovide the vital leadership, coordination and impetus required andI am pleased to support its work. Harvey McGrath, Chairman,London Development Agency and Chairman, PrudentialFrom the work I do to promote the UK"s financial servicesinterests in India, and to develop ties between our two countries,it is clear that there is a tremendous appetite in India to partnerwith the UK and with UK based firms and to learn from ourexpertise. To fully realise this opportunity, both industry and thepublic sector need to be well co"ordinated and work closelytogether. Much work has been done towards this recently and I"mvery hopeful that TheCityUK will give a further push to this.

Gerry Grimstone, Chairman, Standard Life and UK Trade &Investment"s Financial Services Country Champion for IndiaCompetition is growing across the world from countries keen totake advantage of a recovering world economy and the UK, which is aglobal leader and centre for asset management, has a uniqueopportunity. TheCityUK has been created to co"ordinate activitiesaround the country and cut out any consequent overlap here andabroad. It's long overdue for companies, industry groups and thepublic sector to join forces to promote the UK, which is after allhome to the world's leading financial centre. This is a very timelyinitiative for the financial services industry and I am delightedto give it my full support. Martin Gilbert, Chief Executive,Aberdeen Asset Management PLCThe private equity industry has a vital role to play indelivering the investments that will help companies to grow andsupport economic recovery in the UK, the rest of Europe and aroundthe world. We and the other sectors of the financial servicesindustry need to work more closely together " both to promote ourexpertise overseas and to improve understanding of what we do andthe many positive contributions we make to the economy and societyat large. TheCityUK will provide the drive, initiative andco"ordination we need. I am pleased to be involved in itsdevelopment and hope that the whole of the UK"based financialservices industry commits its full support to this important neworganisation. David Blitzer, Senior Managing Director, TheBlackstone GroupA strong financial services industry is critical to support arobust and fully functioning UK economy. In the current economicclimate it is vital that the various organisations involved insupporting and representing the industry and the many individualfinancial services firms based around the UK work together topromote the industry at home and abroad. The CBI welcomes theestablishment of TheCityUK and looks forward to working closelywith it. Richard Lambert, Director-General, CBIFinancial and professional services are vital to the economicdevelopment of Liverpool City Region and the North West of England,just as they are around the UK. I welcome the establishment ofTheCityUK, particularly at a time when all of us involved inattracting investment to our shores need to work more effectivelytogether in true partnerships to promote the world"class expertiseand competitive advantages the UK has to offer abroad, whilstreinforcing the importance of financial and professional servicesto our economy and society here at home. Mark Chadwick, ChiefExecutive, Professional Liverpool