Financial and Professional Services sector news - issue 5

Financial and Professional Services sector news

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Financial and Professional Services logo

Issue 5, July 2015

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howells

Award winning solicitors expands in Wales

An award winning South Wales legal practice is expanding and opening a specialist conveyancing centre of excellence in Bridgend with the aim of becoming one of the top five conveyancing firms in the UK.

The investment by Howells Solicitors is backed by £100,000 from the Welsh Government’s Economic Growth Fund to create thirteen new jobs and safeguard a further three as the company establishes a new conveyancing hub.

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capital

Competitive Cardiff is Financial and Professional Services leading location

Cardiff Capital Region is fast becoming the most competitive location in the UK for Financial and Professional Services outside London, Economy Minister Edwina Hart told a meeting of leading business people. 

The Minister told a CBI breakfast event in Cardiff that the city was one of the UK’s fastest growing locations for financial and professional services with Wales seeing a 10% rise in employment in the sector since 2005. 

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capital quarter

Equiniti opens new FinTech innovation Cardiff Centre

Welsh Government’s strategy to develop one the largest financial and professional services sectors outside of London has received a welcome boost. Equinti, one of the UK’s leading technology, investment, pensions and payment companies has opened its brand new FinTech Innovation Centre.

Located in Cardiff’s newly developed ‘Capital Quarter’ within the area’s Enterprise Zone, the centre was officially opened by Edwina Hart, Minister for Economy, Science and Transport. It will serve as an exciting hub from which Equiniti will continue to develop its core offering of innovative FinTech solutions.

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carbon law

Carbon Law Partners sets up UK headquarters in Cardiff

Carbon Law Partners – an innovative law firm that has remodelled the way a legal practice works by enabling its lawyers to align the way they operate with their clients – is establishing its UK HQ in Cardiff.

Backed by £325,000 business finance from the Welsh Government, Carbon Law Partners is moving from its initial base in Cowbridge to Cardiff city centre where it will create 25 jobs and roll out its pan-UK service, with plans for satellite offices in key centres around the country.

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clarke

Clarke Willmott LLP expand into South Wales

Leading lawyers Clarke Willmott LLP have expanded into South Wales with the opening of an office in Cardiff Bay.

The move sees some of the industry’s leading housing and planning specialists working in the city, and builds on Clarke Willmott’s recent strong track record in South Wales.

It is part of the law firm’s UK-wide growth plans and comes shortly after the firm announced a growth in turnover from £33m in 2012/13 to £40m in 2014/15.

Visit their website

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fps network

Financial and Professional Services Network launched

The recent launch of the Financial and Professional Services Network was hosted by Chris Nott, Chair of the Financial and Professional Services Sector Panel and Managing Partner of Capital Law LLP.

Chris’s welcome re-enforced the importance of indigenous businesses and their vital role in promoting Wales.

Held in the impressive Cardiff Marketing Suite, the night provided the opportunity to network and a demonstration of the huge model of Cardiff.

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cisi board

First Wales CISI Board Meeting

Influential director-level decision makers from globally significant banking and wealth management companies have been in Cardiff to hear first hand what the city has to offer businesses in the financial services sector.

The Board members of the Chartered Institute for Securities & Investment (CISI) held its full Board meeting in Cardiff for the first time.

Welsh Government and Cardiff City Council maximised this opportunity by arranging an inward investment ‘experience’ to promote the Cardiff Capital Region as the location of choice for financial services companies looking to expand or relocate.

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Welsh universities receive CILEx accreditation for legal training

Two South Wales universities have been given the go-ahead to deliver innovative legal training courses by the Chartered Institute of Legal Executives (CILEx).

The University of South Wales and the University of Wales Trinity Saint David’s Swansea Business School are set to enrol students who will follow CILEx’s earn-as-you-learn route to becoming a qualified lawyer.

There are now seven accredited CILEx centres in Wales delivering the professional lawyer qualifications.

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An accessible system of laws to support business growth in Wales

A clear and accessible system of laws is key in terms of promoting a growing, successful and vibrant legal sector to support and attract businesses to Wales, the Welsh Government’s Counsel General has told leading legal professionals.

In a speech to the Law Society Wales summer reception, Theodore Huckle QC said: “Inward investment in Wales is at its highest for decades, because investors know they can rely on a supportive, agile government and a skilled workforce. A clear and accessible system of laws is a key factor in creating, supporting and building on that success.”

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Bangor Law School is top law school in Wales

Bangor Law School is now the top law school in Wales, according to the latest university league tables published by The Guardian, and the School has also risen to 32nd position in the UK, out of the 98 institutions included in the rankings.

This latest plaudit follows the 2014 National Student Survey, in which Bangor Law School was named no.1 in Wales – and joint 5th in the UK – for student satisfaction.

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Full devolution of Non-domestic rates marks a major first milestone for fiscal devolution

The full devolution of non-domestic rates in Wales from 1 April has marked a major first milestone for fiscal devolution in Wales, Finance and Government Business Minister Jane Hutt said.

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The Welsh Economy: in numbers published

The Welsh economy is performing reasonably well over the medium term compared to many other parts of the UK and is materially improving the well-being of citizens in Wales, according to a new website launched today.

‘Welsh Economy: in numbers’ provides a high level, easily accessible, broad picture of the Welsh economy and economic outcomes in Wales.  It brings together for the first time a rounded picture of economic performance for eight key indicators – over time and in comparison with other parts of the UK.

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Financial and Professional Services (F&PS) new website

The new Financial and Professional Services (F&PS) online portal is now live and has been specially designed to encourage new investment and demonstrate Wales’ distinctive financial and professional services offering.

It highlights the success experienced by companies in Wales including company case studies from Deloitte and Griffin Place.

The site also encompasses a number of tools; a Virtual Tour of Cardiff, providing a great indication of what exciting growth and development to expect in Cardiff over the coming years;  a Cost Savings calculator showing the savings Cardiff offers compared to other locations in the UK; and a Media Hub that is constantly updated with the latest sector news along with useful brochures and documents  of interest.

Visit the website.

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New website shows how Welsh laws differ from rest of UK

A new website has been launched to help people understand the way laws in Wales are starting to diverge from the rest of the UK. The National Assembly can pass laws for Wales in 20 specified devolved areas of economic, social and cultural importance to citizens, including health, education, agriculture, transport, housing and the environment.

The Cyfraith Cymru / Law Wales site has been spearheaded by the Welsh Counsel General, Theodore Huckle QC to raise awareness of the growing body of Welsh law being passed by the National Assembly for Wales and made by the Welsh Ministers.

Read more and visit website.

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