Member Update February.
I hope you have seen the recent good news in Scottish Business Insider highlighting our 15% new member growth in 2021. We are delighted to welcome the newest organisations to our diverse membership after what has been one of SFE’s most successful years for new member growth. Continuing to attract new members from across Scotland will be a key priority in 2022 and we are off to a strong start with a number of firms in the pipeline.
Another focus for us will be the ongoing development of our proposition to new and existing members. Our recent member satisfaction survey found a positive net promotor score of +12. While we are encouraged by the results, we are determined to ensure that every member feels they are getting the maximum value for their membership and will be undertaking a programme of activity in 2022 which responds to the feedback we have been given.
Our refreshed proposition for members will prioritise networking opportunities and an increased focus on face-to-face events, starting with new monthly member meet-ups in both Edinburgh and Glasgow. The sessions will be informal in nature but will have a prescribed topic, trend or challenge to spark meaningful debate and encourage collaboration. In addition to this we are planning three Summer Receptions in Edinburgh, Glasgow and London as well as two members dinners for our Glasgow members.
We are in the early stages of planning our first joint Annual Conference with TheCityUK with a date set for 1 December. The event will recognise our ties with the wider UK industry and our commitment to representing and promoting SFE members in Scotland.
We are also pleased to confirm that our annual awards will be going ahead on 27 October in Glasgow and would encourage you to save the date in your diary now. The event will be returning to its traditional, full-capacity dinner format for the first time since 2019 and we will begin advertising tables soon.
The objective of this range of new activity is to create more opportunities for all members to feel the full benefit of engagement with SFE, to add to our growing network and to support our strategic objectives. We look forward to sharing more of the experiences that make us a stronger, richer and more inclusive organisation in 2022.
Kind regards,
Sandy Begbie CBE, Chief Executive, SFE
Political engagement
On 1 February Sandy attended the inaugural meeting of the Green Heat Finance Taskforce, chaired by Minister for Zero Carbon Buildings, Active Travel and Tenants’ Rights Patrick Harvie MSP
On 1 February Sandy met with Scottish Conservative leader Douglas Ross MSP to discuss the financial services strategy, ongoing engagement, the state of the economy and insights from the banking barometer
On 3 February Sandy met with Kris Krasnowski, Deputy Director, Policy Delivery and Relationship Management at the Scotland Office, to discuss SFE engagement with the Scotland Office and wider UK Government and progress with the financial services strategy
On 4 February Sandy met with Murdo Fraser MSP of the Scottish Conservative Party to discuss the economy, return to office and our skills agenda
On 9 February Sandy spoke with officials from HM Treasury about our ongoing engagement and the economic recovery.
On 15 February Sandy met with SNP Treasury Spokesperson Alison Thewliss MP to discuss the Westminster cross-party work on sectoral challenges in financial services, the sector in Scotland and future skills needs
On 17 February Sandy spoke with Minister for Business, Trade, Tourism and Enterprise Ivan McKee MSP about the banking barometer and current state of the economy and the National Strategy for Economic Transformation.
On 22 February Sandy met with Vincent Keaveny, Lord Mayor of the City of London, discussing shared priorities and opportunities to collaborate on net zero, inclusion and social mobility
On 23 February Sandy met with Scottish Labour Finance Spokesperson Daniel Johnson MSP to discuss the economic recovery and the sectors future skills needs.
On 28 February Sandy joined the Covid Recovery Officials Governance Group
Recent events
Intergenerational Workforce event
On 9 February we held a webinar with Phoenix Group & IQUAD to discuss the opportunities of intergenerational & ageing workforces with Mary Bright, Head of Social Affairs and Age Special Adviser at Phoenix Group and Anthony Ginn, Managing Director at IQUAD.
Children’s Mental Health with Place2Be
On 24 February we partnered with Place2Be from 24 February on anxiety, how best to support an anxious child, and how to understand and work with our own anxieties.
SFE & RSM Webinar on Cryptocurrency
On 3 March we held an insight session with RSM UK on what the growth of cryptocurrency could mean for financial advisors, answering some of the common questions around tax treatment, risks and benefits.
To watch all of our past events, sign up to our newsletters here.
Upcoming events
Scottish Apprenticeship Week
Skills Development Scotland are running a range of free employer events for Scottish Apprenticeship Week 2022 from 7 – 11 March for businesses of all sizes to support existing apprentice employers and attract new employers to invest in apprenticeships. Find out more here. SFE will also be taking part in the campaign with a range of blogs and social media content. Make sure you are following us on Linkedin and Twitter to keep up with our activity.
SFE & GingrTech Insight Session: The Power of Simulations
On 17 March we're partnering with GingrTech for an insight session and Q&A on the transformative power of business simulations and experiential learning, with CEO Tim Dew on hand to talk through some of GingrTech's games. Register here.
Pinsent Masons Consumer Credit
On 10 March we're partnering with Pinsent Masons for a webinar on consumer credit claims, the defences that may be open to lenders, and potential future trends. All members are welcome. Register here.
SFE in the media
SFE membership grows by 15%
Read our exclusive in Scottish Business Insider on our new member growth in 2021 here.
Sandy writes in The Scotsman
Ahead of the Scottish Government launching their Strategy for Economic Transformation this week. Sandy wrote in The Scotsman calling for it to tackle Scotland’s long-term productivity challenge with a clear focus on entrepreneurial growth.
SFE responds to National Strategy for Economic Transformation
We responded to the new strategy by welcoming the focus on entrepreneurialism and highlighting that its broader success hinges on delivering the key commitments. Our response was shared directly by Cabinet Secretary for Finance and Economy Kate Forbes and quoted in The Times.
Industry news
Capco growing Scottish operations
Capco has announced over 100 new jobs to its Scottish operations to meet growing demand for digital transformation, automation and data services. Commenting on the expansion, Sandy Begbie said: “Capco has been a real success story in Scotland and today’s announcement is yet another clear statement of their commitment to our sector". Read more in The Scotsman.
Growth for PwC financial services team
PwC is adding over 100 people across Edinburgh and Glasgow in its financial services operations. “Like many industries, the pandemic has forced the financial services sector to accelerate the rate at which it has to change. Technology and the race to net zero have fundamentally altered the way the sector thinks and our role at PwC is to help enable that transformation” said Fraser Wilson, financial services leader for PwC Scotland. Read more here.
Barclays SME support
Barclays has a new initiative aimed at supporting small businesses through the pandemic recovery with masterclasses on managing cash flow, business growth and support for wellbeing. The initiative is in response to new research conducted by Barclays, which has highlighted the impact of the pandemic on small business owners, with over a quarter revealing that their mental health has declined. Read here.
Blogs, podcasts and more
Insurance M&A 2022 Outlook
RSM M&A Partner Natelie Ord takes a look at the 2022 outlook for insurance M&A, including the level of deal activity expected and what the key trends are driving demand. Read here.
Economic Recovery and the year ahead
Malcolm Buchanan, Chair of the Scotland Board at Royal Bank of Scotland and SFE Board Sponsor for Economic Recovery discusses what the banking sector is doing to alleviate challenges facing businesses and support growth in 2022. Read here.
Scottish Business Network podcast
SFE Chair and Lloyds Banking Group Chief Operating Officer for Insurance & Wealth Philip Grant did this podcast with the Scottish Business Network discussing his path into the financial services sector, the experiences which have helped shape his career, and what the future of finance in Scotland looks like. Listen here.
SFE YP Blog | LGBT+ History Month
On the final day of LGBT+ History Month SFE Young Professional and Lloyds Banking Group Business Support Manager Ciaran Corrigan shared his thoughts on why it matters and what actions we can all take to support the LGBT+ community. Read here.
Useful information
Providing Financial Services Apprenticeship
A new, Modern Apprenticeship in Providing Financial Services has been created – the first in the sector to go through the new system for apprenticeship development, which aims to puts employers at the heart of the process. Find out how your firm can get involved here. Find out how to take part in developing future apprenticeships for your industry or sector here. Read more about technical expert groups here.
NCES cybersecurity advice following Ukraine invasion
The National Cyber Security Centre (NCSC), the UK’s technical authority on cyber security, have issued guidance for organisations on the steps they need to take to bolster the UK’s resilience against the heightened risk of malicious cyber incidents in and around Ukraine. For further information visit: https://www.ncsc.gov.uk/guidance/actions-to-take-when-the-cyber-threat-is-heightened where you will find the relevant advice, actions and resources.
Support for businesses affected by new sanctions
The Department of International Trade have set up a dedicated helpline and online services to support businesses with questions about trading with Ukraine or Russia. Find out more here.
