The Financial Services Trade and Investment Board (FSTIB) is part of

HM Treasury His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and ...

and is a partnership between the

UK Government ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_est ...

and industry. The Board meets on a quarterly basis to develop high-growth initiatives such as Renminbi internationalisation, green finance and

financial technology Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

. Its aim is to strengthen Britain's position as the centre of global finance and deliver jobs and growth across the country. The FSTIB works closely with the Financial Services Organisation (FSO). The FSO is a key delivery partner for the FSTIB's initiatives.

History

The FSTIB was formed by Chancellor

George Osborne George Gideon Oliver Osborne (born Gideon Oliver Osborne; 23 May 1971) is a former British politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the ...

in Budget 2013 to promote the UK's financial services industry. The Board first met on 8 October 2013 and was charged with leading the government's drive to promote external trade, attract inward investment and lift market access barriers for the UK's financial services sector. In July 2015, the Chancellor re-launched the FSTIB with a new board composed of senior representatives from across government and industry.

Achievements

* establishing the UK as the centre for Renminbi 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 financial technology

Membership

The

Economic Secretary to the Treasury The Economic Secretary to the Treasury is the sixth-most senior ministerial post in His Majesty's Treasury, after the First Lord of the Treasury, the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the Paymaster-General and the ...

Simon Kirby Simon Gerard Kirby (born 22 December 1964), also known as Simon Radford-Kirby, is a British politician. A member of the Conservative Party (UK), Conservative Party, he was elected as the Member of Parliament (United Kingdom), Member of Parliame ...

, chairs the quarterly board meetings. Members include: *

Helena Morrissey Helena Louise Morrissey, Baroness Morrissey, (; 22 March 1966), is a British financier and campaigner. Early life Morrissey was born in Bowdon, Cheshire, in 1966. She grew up in Alverstoke near Portsmouth, and was educated at Bishop Luffa Sch ...

, Chair, Newton, and Chair,

Investment Association The Investment Association is the trade body that represents UK investment managers. Their more than 250 corporate members collectively manage over £7.7 trillion on behalf of clients in the UK and around the world. History In 2015, the trad ...

John McFarlane John McFarlane OBE (born 14 June 1947) is a British businessman. He served as Group Chairman of Barclays from 2015 to 2019. Early life He was born in Dumfries and attended Dumfries Academy. He was educated at the University of Edinburgh, Cr ...

, Chairman, Barclays *

Inga Beale Dame Inga Kristine Beale, DBE (born 15 May 1963) is a British businesswoman and the former CEO of Lloyd's of London. In June 2018, it was announced that she would be stepping down as CEO of Lloyd's after leading the global insurance and reinsuranc ...

, CEO,

Lloyd's of London Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body gove ...

* Nathan Bostock, CEO,

Santander UK Santander UK plc (, ) is a British bank, wholly owned by the Spanish Santander Group. Santander UK plc manages its affairs autonomously, with its own local management team, responsible solely for its performance. Santander UK is one of the l ...

* Miles Celic, CEO,

TheCityUK TheCityUK is a private-sector membership body and industry advocacy group promoting the financial and related professional services industry of the United Kingdom (UK). TheCityUK is often referred to as the industry's "most powerful" or "most pr ...

* Xavier Rolet, CEO,

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...

* Sir Gerry Grimstone, Chairman,

Standard Life Standard Life is a life assurance, pensions and long-terms savings company in the UK which is owned by Phoenix Group. History 1825–2010 The Standard Life Assurance Company was established in 1825 and was reincorporated as a mutual assurance ...

Mark Garnier Mark Robert Timothy Garnier (born 26 February 1963) is a British Conservative Party politician and former banker. He was first elected as Member of Parliament (MP) for Wyre Forest at the 2010 general election. Garnier was re-elected at the ...

Parliamentary Under Secretary of State Parliamentary Under-Secretary of State (or just Parliamentary Secretary, particularly in departments not led by a Secretary of State) is the lowest of three tiers of government minister in the UK government, immediately junior to a Minister ...

Department for International Trade The Department for International Trade (DIT) is a department of His Majesty's Government responsible for striking and extending trade agreements between the United Kingdom and foreign countries, as well as for encouraging foreign investment and ...

* Charles Roxburgh, Second Permanent Secretary, Financial Services,

* Deborah Bronnert, Director General, Economic and Consular, Foreign and Commonwealth Office * Katharine Braddick, Director, Financial Services,

* Rob Ward, Deputy Director, Financial Services,

References

{{Reflist 2013 establishments in the United Kingdom