Relaunch under new CEO
Revived financial group to help boost collaboration
Raymond Wales: ‘a key point in time’ (pic: Terry Murden)
Financial services companies seeking to work together on such issues as regulation are being targeted by an organisation that has been largely dormant since the crash.
Scottish Investment Operations was set up in 2001 to support recruitment for global financial services businesses looking to Scotland as a low-cost highly skilled base. It formalised itself by creating professional qualifications, but experienced a membership decline following the banking crisis.
Now it is being relaunched following resurgent demand from companies in the fund management and investment banking sectors seeking greater collaboration over common business challenges, such as changing regulatory landscapes.
Raymond Wales took over as chief executive last year with a mission to repurpose the body by driving common agendas and sharing knowledge. At an event this evening he will tell delegates of his intention to double membership over the next two years.
He will urge delegates to work together to improve the sustainability of the sector and increase the positive contribution it makes to the Scottish economy, regardless of changing local and global landscapes. SIO’s agenda will be aligned with the strategic aims of other bodies representing Scottish business such as Scottish Financial Enterprise and FinTech Scotland.
Mr Wales said: “This is a key point in time for our membership. Through active and collective participation, we have an agenda that is current, tactical and relevant for them. Regular forums give them the opportunity to discuss in confidence common challenges and a base to work together to implement best solutions and practices.
“Ultimately, I believe this will drive improved performance and have a positive impact on Scotland’s financial services sector reputation as a global centre of excellence.
“I want us to be clear in what we deliver to our members and also facilitate greater collaboration on key common business issues. Investment Operations are a key part of the Scottish economy and there is great strength in unity in meeting regulatory and customer expectations
“I am thrilled to get a mix of significant blue chip and new thought leading organisations behind the relaunch and I am exploring various options to take SIO’s reach further – the demand is certainly there.”