The Isle of Man Insurance and Financial Services Institute hosted a key Continuing Professional Development (CPD) event at the Claremont Hotel in Douglas on the 27th April.
The event also marked the Institute’s presidency handover from Sue Gee to Nick Boon.
The event’s speaker, Sir Stephen Wright, Chief Executive of International Financial Services, London (IFSL) described how its members – some of the City’s leading financial businesses – benefit from its activities.
The body was established some 40 years ago by the Bank of England to monitor invisible trade.
Over the years it has become a leading source of information on the City’s activities and a 'window' on the world in terms of global trends in the industry.
IFSL is a key member organisation dedicated to researching and promoting the UK’s financial services industry in emerging markets.
The organisation operates in a unique way bringing together the Lord Mayor of London’s office, international City based business and global networks to facilitate financial services activity.
Following the Foot Report which identified the Isle of Man as one of the City’s key business partners, Sir Stephen confirmed his willingness to work with the Isle of Man Finance, the Island’s financial services promotional arm particularly with regard to emerging markets such as Brazil, Russia, India and China (BRIC) countries.
Sir Stephen drew attention to IFSL’s comprehensive library of publications that are available on its website (www.ifsl.org.uk) which could
provide valuable information for those considering entering one of these markets.
The organisation also runs a series of meetings in the City on a variety of key topics that help members pick up knowledge quickly from participants in the various sectors.
Going forwards, IFSL will become part of the City UK which will seek to focus the various strands of promotional activity going on throughout the UK financial services industry.
This will present an opportunity for the organisation to broaden its activities and be more representative of UK’s offering.
Of importance to the new organisation, which is launched in June this year, will be overseas promotion; contributing to the regulatory debate and explaining the importance of financial services to the UK population.
The organisation will provide a well informed and credible voice for the UK financial services industry to ensure that it facilitates the development of one of the UK’s key exports.
Newly appointed President of the Isle of Man Insurance and Financial Services Institute, Nick Boon commented, "Sir Stephen Wright’s visit to the Island has reinforced the partnership that exists between the City of London and the Isle of Man. I look forward to working with Sir Stephen Wright’s organisation in developing the Isle of Man’s business interests."
The CPD event ended with the hand-over of the Isle of Man Insurance and Financial Services Institute’s Presidency from Sue Gee to Nick Boon.
Sue Gee commented: "Looking back on an interesting and challenging year financially, the Isle of Man Insurance and Financial Services Institute has endeavoured to offer continued professional support.
"Through seminars and other events, insurance sector professionals have a great backdrop for professional qualifications and continued development. I wish my successor, Nick Boon and the Institute the greatest success in the coming year."
Nick Boon thanked Sue Gee, the outgoing President, for all her hard work throughout the last year.
The Isle of Man Insurance and Financial Services Institute host a range of local events for the industry.
For more information on upcoming events, visit www.localinstitutes.cii.co.uk/isleofman/
