The Irish Business Network Scotland, in partnership with the Consulate General of Ireland, Enterprise Ireland and the Scottish Irish Finance Initiative hosted an event at the Consulate of Ireland in Edinburgh to explore and develop links between the Irish and Scottish financial industries on 27 April.
The event brought together members of the Irish Business Network Scotland with some 40 representatives of the Scotland’s financial sector and Irish financial services companies.
Opening the event, Consul General of Ireland Mark Hanniffy welcomed guests and explained that Ireland is a globally recognized centre for specialist International Financial Services.
Ireland is home to more than 400 companies active in this area, including some of the world’s largest International Financial Services companies in sub-sectors such as banking, funds, asset management and investment, insurance and reinsurance, fintech and aircraft leasing.
Over 200 Irish-owned companies are at the leading edge of international finance services in a range of sectors including payments, fintech and fund services, and the Consul General welcomed representatives of a number of those companies who travelled from Ireland to attend the event.
Consul General Hanniffy also noted that Scotland is a world leader in asset management, insurance and banking, with upwards of $1 tn of assets under management.
David Clarke and Colin Imrie of the Scottish Irish Finance Initiative then made the case for increased collaboration between the Irish and Scottish financial sectors in the years ahead, while Dr. Devraj Basu of the University of Strathclyde Business School outlined the particular benefits of partnership in the area of fintech.
In his remarks, Chairperson of the Irish Business Network Scotland Colm Moloney noted that the event was an excellent opportunity to strengthen links between the Scottish and Irish financial sectors, and emphasised the important role of the Irish Business Network Scotland in facilitating increased collaboration between financial services companies on both sides of the Irish Sea.