SEC Talks With Graham Smith About Financial Services

Just a five-minute, easterly walk from the main entrance of the Scottish Event Campus, you will find Glasgow’s International Financial Services District (IFSD). The city boasts a 53,000 strong workforce in the financial and supplementary and auxiliary services sectors which means Glasgow competes on a global level in the field.

We spoke with Graham Smith, Group Manager for Business Growth, Development and Regeneration Services at Glasgow City Council about the development and future of the district and how events help to create a thriving, international industry in the city.

“Glasgow’s International Financial Services District was launched in 2001 to revitalise a relatively neglected corner of the city centre, fronting on to the River Clyde at the Broomielaw. Since its launch, the IFSD has attracted more than one billion pounds investment, creating over three million square feet of top quality workspace, now home to many of the biggest names in global finance. This has helped attract over 15,000 jobs to the District.

“There’s so much going on right now in the city’s financial sector, so let me try to provide a flavour. In the last year alone, Barclays has confirmed plans for an incredible campus at Tradeston on the southern edge of the IFSD where it looks to double the existing 2,500 strong workforce in Glasgow. Morgan Stanley officially opened its new offices and CYBG has started work on its new head office on the adjacent site on Bothwell Street. Recently, J.P. Morgan confirmed it is searching for a new location in the city to house up to 2,500 people, in its expanding global technology hub.

“The first Masters in Fintech in the UK completed its first academic year at the University of Strathclyde.  Attractive new, flexible workspaces are spawning a generation of young, rapidly growing fintech developers like Castlight Financial, Soar and Asura Financial Technologies. Glasgow was confirmed as the UK’s biggest insurance centre outside London.

“Growing IFSD Glasgow centres around infrastructure and connectivity, alongside skills and talent, with a real focus on innovation and technology. Developing the highest quality workspaces is essential to attract and retain the best talent. Equally important is creating an overall attractive physical environment, easy to access via transport links, offering reliable, high speed digital connections, with lots of amenities, so that people find the city an appealing place to both live and work.

“Our skills and talent pipeline is a key factor in attracting major employers to locate in the city. We believe Glasgow punches well above its weight, with a highly qualified workforce, five higher education institutions and a super network of colleges and schools. Glasgow has, in recent years, won accolades such as the Best UK city for millennials, Best UK city for work life balance, one of the ‘top value’ cities in the UK for cost of living and the Finnieston strip was voted the ‘hippest place in the UK’. All tremendously influential in attracting experienced talent to stay, return or relocate here. Of growing importance is fintech and we look to attract and support the emerging generation of fintech developers, as part of our backing for the financial sector’s adoption of the latest digital innovations.

“Working in partnership is a vital element in the exciting mix of companies and individuals in Glasgow’s financial community today. Effective networking through events is a prerequisite to foster a collaborative culture; whether it’s regular events staged by prominent organisations such as ACCA or the Insurance and Actuarial Society of Glasgow, the rapidly growing number and variety of tech meet ups, industry specific conferences, training seminars, awards dinners, exhibitions and conferences. Glasgow is blessed with such a wonderful variety of attractive venues to host these events, including of course the Scottish Event Campus.

The IFSD will continue to play a central role in the forthcoming regeneration of Broomielaw district which will have a transformative impact on this key area for the city’s future.”