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FIG Annual Conference 2017

Financial services event unites professionals from Norwich’s financial community

 

The second annual FIG Norwich conference took place on 23 November 2017 at the University of East Anglia (UEA) Norwich Business School (NBS).

The event saw over 100 attendees from Norwich’s financial community including professionals from insurance, accountancy, law, banking, consulting, investment management, private equity, technology, education, government and regulatory bodies.

Hosted by FIG board member and Professor of Finance and Director of Research at NBS, Raphael Markellos, the event provided an opportunity for the exchange of ideas and the expansion of networks within the City’s thriving financial services sector.

Professor Markellos said “UEA’s involvement with FIG is key in terms of building strategic relationships with the local financial services community. Professor Pandit’s research on Financial Clusters is extremely valuable to the development of the group as it reinforces the importance of Norwich as a centre of excellence in this sector.”

Professor Naresh Pandit of NBS

Professor Pandit launched the event with his presentation on The Development of Norwich’s Financial Services Cluster, the results of his research focus on clusters and the clustering of financial services in particular.

NBS research confirms that firms in strong geographical clusters grow faster than average, attract a disproportionate amount of new firm entry, and that firms that sit within strong clusters are more innovative.

 

 

 

Dr Neil Garner, Thyngs

Emerging technology is having a huge impact on the financial services sector and Norwich has already established itself as a vibrant digital technology cluster.

‘Fintech’ start-ups and significant global businesses are increasingly recognising the East of England as a place to do business.  Dr Neil Garner, founder and chief executive officer of Thyngs talked about the decline of cash and growth of mobile payments, revealing that the first ever re-loadable mobile contactless payment took place in Subway on London Street, Norwich in September 2010!

 

 

Chris Starkie, CEO, New Anglia Local Enterprise Partnership

Chris shared New Anglia LEP’s Economic Strategy for Norfolk and Suffolk. He highlighted the role of the financial sector in driving the ambitions of the strategy, as one of the largest financial services and insurance clusters in Europe, with growing start up financial service businesses building on a heritage going back 200 years.

You can read more about the Economic Strategy at https://newanglia.co.uk/

 

 

 

Professor Amelia Fletcher, Professor of Competition Policy and Deputy Director of the Centre for Competition Policy at UEA

Keynote speaker, Professor Amelia Fletcher focused on Tools to enhance consumer decision-making in financial services: Pros and cons.

Professor Fletcher highlighted the increased focus in financial services regulation on behavioural economics and the tools used to influence consumer decision making. You can access the full Which? report here: Amelia Fletcher (2016) “The Role of Demand-Side Remedies in Driving Effective Competition: A Review for Which?”

 

 

Steve Davidson, MD of Marsh and FIG Chair

Steve Davidson of Marsh and FIG Chair closed the event with an update on the work of FIG in the last year and its future ambitions.  FIG Norwich aims to be a strong voice for supporting the improvement of key skills required, promoting awareness of the importance of the financial sector, and influencing policy at a local and national level.

Steve stressed the importance of the sector and its contribution to the local community.  He ended with a call to action for those in the room to support the network, contribute ideas and opinion and come together to make positive impact upon the local area.

 

 

You can download the presentations from the event here:

 

For further information, please email Anna Douglas or Claire Bushell at info@fignorwich.org

 

 

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