Financial Services Trade and Investment Board
The Financial Services Trade and Investment Board (FSTIB), was established by the Chancellor in his 2013 Budget to promote and grow the UK’s world class financial services industry.
FSTIB was created to strengthen the competitiveness of the UK financial and related professional services industry and to help UK based firms secure access to markets around the world. FSTIB is chaired by HM Treasury and comprises senior representatives from the Department for Business, Innovation and Skills (BIS), the Foreign and Commonwealth Office (FCO) and UK Trade and Investment (UKTI). The board has five independent external members. TheCityUK (TCUK) is the representative for the industry on the board.
FSTIB has the authority and expertise to identify trade and investment priorities and support UK based firms in pursuing these vigorously across the globe.
The first three work streams of FSTIB are well underway. The UK Investment Management Strategy is being implemented and the Insurance Growth Plan is in the final stages of being scoped. Equally there is a key focus on trade negotiations, specifically the Transatlantic Trade and Investment Partnership.
Other initiatives currently under consideration by the FSTIB Board concern developing London as an offshore centre for the Renminbi, Islamic Finance, and Financial Technology.