The Lord Mayor of the City of London, Alderman Alastair King, was in Derry on 9th December for a series of engagements building on the North West’s strong connection with the City of London.
Alderman King and the visiting delegation were welcomed to the Guildhall by the Mayor of Derry and Strabane, Councillor Lilian Seenoi Barr, who took the opportunity to discuss shared interests in business, the adoption of technology and innovation. The City of London is a global leader in the Financial and Professional Services sector, and the visit was a timely opportunity to highlight the City Deal projects that will bring about growth, investment and prosperity for the region and ongoing collaborative work locally to establish the world’s first multi-sector RegTech Supercluster here in the North West to the City’s international ambassador.
Welcoming the Lord Mayor on his first visit to Derry, Councillor Barr said: “I was delighted to welcome Alderman King to the city, building on the strong ties we already enjoy with the City of London. We discussed the many strategic advantages of living and working here in the North West, in particular the work that is going into developing our RegTech proposition. “We offer a compelling package for global investors, which is why it’s so important to get the message out there through our partners in the US and the City of London, who can assist in tapping into RegTech global market opportunities.”
Speaking after the meeting, Alderman King said: “It was pleasure to meet the Mayor of Derry City and Strabane District, Lilian Seenoi Barr, policymakers and business leaders across Derry today to discuss how we can further grow our already strong relationships, build on the Northern Ireland’s excellent work in the RegTech sector and on bringing out further regulatory reform.
“Northern Ireland is a leader in financial services and we look forward to continuing the conversation on how to grow the financial and professional services sectors across the UK.”
The delegation went on to attend a special RegTech Forum event led by Council, Invest Northern Ireland and Ulster University where the Lord Mayor and London City representatives met with partners from DCSD Council, Donegal County Council, Atlantic Technological University (ATU), Ulster University, and Catalyst, and over 100 industry leaders, regulators, academics, and innovators.
The Forum was chaired by Invest N. Ireland Chair John Healy, and during the event Council’s Investment Manager Rosalind Young, launched a special Innovation Challenge in partnership with the City of London Corporation. The initiative encourages local companies to generate creative solutions for regulatory challenges which could contribute to shaping the future of RegTech.
Speaking afterwards Ms Young said: “We are inviting innovators to showcase their ideas and help address critical ESG and AI issues with support from global experts. It’s an exciting opportunity to foster collaboration between cutting technology companies to address the challenges faced by the financial services sector and contribute to developing new technologies and identifying solutions that could assist businesses by addressing real-world regulatory challenges.”
To find out more about the RegTech Supercluster and how local companies can get involved, go to https://www.regtechsupercluster.co
