Scottish Financial Enterprise will partner with The City of London Corporation to deliver a flagship summit next year that will seek to attract global investment to Scotland.
Set to take place in Edinburgh next autumn, the Scottish Investment Summit will be announced tonight at the Scottish Financial Services Awards taking place in Glasgow. More than 700 business and political leaders will gather to recognise the contribution of the industry to the Scottish economy, with recent figures showing it is now worth £14.8 billion in GVA while directly supporting 148,000 jobs.
Scottish financial services leader Alasdair King was recently elected to serve as the 696th Lord Mayor of the City of London, and will serve as a global ambassador for the UK’s financial and professional services industry during his year in office which begins on 8 November.
The summit will be a key part of his vision to unleash growth across the UK and will shine a spotlight on Scotland’s unique investment proposition, focusing on key Scottish sector strengths including financial and professional services, green energy, life sciences and space.
“With foundational strengths in banking, wealth management, life assurance and pension services mixed with unique capabilities in data, AI and the energy transition, Scotland is a deeply attractive investment destination," Mr King said. "The Investment Summit will be the perfect opportunity to showcase Scotland to investors from around the world.”
The primary audience for the event will be capital and foreign direct investors and it will provide the opportunity to showcase examples of successful investments across these sectors and the long-term attractiveness of Scotland as a location. It will also demonstrate the strong partnership that exists in Scotland between industry and the university sector.
“Scotland has a global reputation for innovation and expertise but against a backdrop of increasing global competition, we must continue to work hard to demonstrate the appeal of our leading industries as a destination for investment," SFE chief executive Sandy Begbie said.
“This summit will showcase the very best of Scotland’s leading industries to global investors and provides an opportunity to harness the dynamism and diversity of what Scotland has to offer.”
The annual Scottish Financial Services Awards, sponsored by EY, celebrates the contribution of firms and individuals to the Scottish financial services industry.
Whisky industry slams 'hammer blow' as Budget shocks firms
Companies across a range of sectors will be forced to pay hundreds of millions of pounds more in tax after Ms Reeves announced long-trailed plans to hike employer national insurance contributions, with further cost increases in the pipeline from a 6.7% rise in national living wage to £12.21 an hour next year.
And there was anger from the Scotch whisky industry as the Chancellor said spirits duty will rise in line with retail price index inflation from February, although beer duty was cut by a “penny a pint".
Read the full story here.
Glasgow firm acquires insolvency book from accountancy giant
The deal comprises trust deeds, debt arrangement schemes, and sequestrations for hundreds of individual cases with a “significant” book value.
And Wbg declared that the acquisition highlights its ability to scale up “considerably” as a result of the infrastructure it has developed to serve the insolvency sector over the years.
Read the full story here.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here