City of London Corporation pledges ‘collaboration not competition’ with Manchester

The City of London Corporation, one of the world’s leading global financial centres, has pledged to double its expansion into the North.

It follows a successful pilot with Manchester last year designed to bridge the gap between London and other major financial regions.

Its success has paved the way to roll the initiative out to Leeds, a major international legal hub.

The move will make the North of England the only area in the UK to have two of its major cities running separate partnerships with the Square Mile – which represents the UK’s financial and professional services sector.

Catherine McGuinness, policy chairman of the City of London Corporation, said “collaboration not competition” would cement the UK’s position as the world’s leading global financial and professional services hub.

The Corporation’s regional strategy involves three main pillars: inward investment, which will help firms expand their domestic presence; trade links, which involves regional representatives joining the Lord Mayor of the City of London and the policy chairman on their extensive programme of international travel; and international outlook, promoting opportunities and expertise to firms to export their products and services globally.

Catherine McGuinness, policy chairman of the City of London Corporation

Catherine McGuinness, policy chairman of the City of London Corporation, said: “Brexit made clear that there is still a high degree of disparity between London and other major cities in the UK.

“We will help to close this gap by creating deeper relationships and ultimately more tangible results between London and the country’s major financial and related professional hubs.

“Leeds and Manchester are recognised as international hubs for financial and professional services in their own right. It’s now time to link the great strengths each of our cities share to boost the sector across the country.

“We want collaboration – not competition – to cement the UK’s position as the world’s leading global financial and professional services hub. We look forward to working with our northern partners to make a real difference and ultimately bolster our local and national economies.”

Since the strategy was launched last year, the City Corporation has met with Mayor of Greater Manchester Andy Burnham; attended and hosted a series of events with Manchester Inward Development Agency (MIDAS); and held a FinTech roundtable for firms in the region.

The Lord Mayor of the City of London, Charles Bowman, will be visiting the north of England at the end of July.

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