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FSI/City of London Dialogue

FSI Executive: Aisling Mc Niffe

Purpose of the FSI/City of London dialogue

Established in 2015, the Financial Services Ireland – City of London Dialogue is a forum for CEOs and Senior Management from individual financial services firms and associations in the Republic of Ireland and the United Kingdom to discuss financial services issues that are of common interest.

Dialogue Chairs

  • Irish chair – Susan Dargan, Executive VP & Co-Head of Global Services EMEA, State Street and former FSI chair. Susan sits on the Industry Advisory Committee, the Public Sector/Private Sector International Financial Services forum for Ireland.
  • UK chair – Joanna Cound is Head of Government Affairs & Public Policy, Europe at BlackRock. Joanna also does a lot of work with the International Regulatory Strategy Group (IRSG). The IRSG is a cross sectoral practitioner-led body comprising leading UK-based representatives from the financial and professional services industry. It is chaired by Mark Hoban, former Financial Secretary to the Treasury.

Issues that the dialogue looks at

Originally these common issues were mostly EU regulation, such as Better Regulation, Fintech and Capital Markets Union. Since June 2016, CMU and FinTech are still priorities but the main focus is Brexit – specifically looking at the impact of Brexit on financial services in Ireland and the UK, taking account of the close relationship between both countries, whilst respecting that Ireland is part of EU 27. Please see below joint paper that the dialogue signed off in July 2016.

Secretariat

  • Irish Secretariat - This dialogue is led on the Irish side by Financial Services Ireland, the part of Ibec that represents financial services firms, both domestic and international, start up to multi national. It is the only cross sectoral trade association in Ireland – representing banking, insurance, asset management, funds, FinTech, corporate treasury and aircraft leasing. Joe Duffy is Head of Global Client Management, EMEA and Country Executive, Ireland for BNY Mellon and is the current FSI Chair. Aisling Mc Niffe from FSI is the Irish secretariat.
  • UK Secretariat - This dialogue is led on the UK side by the City of London Corporation. It provides local authority services to the City of London, also known as the Square Mile, the financial district and historic centre of London. One of its key aims is to support and promote London as the world's leading international financial and business centre and attract new business to the capital and the whole UK. Audrey Nelson from the City of London is the UK secretariat for this dialogue.
  • History - The plenary - i.e. all people involved - meets twice a year, alternating between London and Dublin. Since Brexit it is meeting more frequently. There are two overall Dialogue Chairs who steer the plenary and policy discussions. There are also workstreams, again with Co-Chairs from Ireland and the U.K. which feed into the overall plenary activity. Going forward the dialogue is also keen to engage more actively with representatives from Irish and UK Government Departments.

For more information on this working group, please contact Aisling Mc Niffe, Senior Executive - Communications and Political Affairs on +353 1 605 1617 or email aisling.mcniffe@ibec.ie

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