Draft:Financial Services Group of Livery Companies

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The Financial Services Group of Livery Companies (FSG) is an association of modern Livery Companies of the City of London representing financial and professional services. It was formed in 2006 to coordinate the efforts of these livery companies in supporting the Lord Mayor of London and promoting the UK’s financial services industry.[1]

History

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The FSG was established in 2006 during the mayoralty of Sir John Stuttard, Lord Mayor of London (2006–2007). It was created to provide a unified platform for livery companies in financial and business services to support the City's outreach, particularly through the Lord Mayor’s programme of domestic and overseas engagement.[2] Its founding was led by senior members of several modern livery companies, notably the Worshipful Company of International Bankers.

The FSG aims to assist the Lord Mayor and the City of London Corporation by providing expert briefings, coordinating visits, and showcasing the breadth of professional expertise in the Square Mile.[3]

Founding and Member Companies

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The original twelve founding members of the Group were:

In 2017, the Worshipful Company of Chartered Surveyors joined the Group, bringing the total membership to thirteen.[2]

The Guild of Investment Managers (2019) and the Guild of Entrepreneurs (2021) have been granted observer status, reflecting the Group’s support for emerging professions in the City.[1]

Governance

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The FSG is chaired by rotation among the member companies. Notable past chairs include:

  • Karen Richardson (City of London Solicitors’ Company)
  • Andrew Marsden (Worshipful Company of Marketors), who also served as Sheriff of London (2022–2023)[4]
  • Mark Spofforth (Worshipful Company of Chartered Accountants), current Chair as of 2024 and former President of the ICAEW[1]

Each livery company appoints a representative to attend FSG meetings, and the Group meets quarterly.[2]

Activities

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Supporting the City

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The Group plays an active role in briefing and supporting the Lord Mayor of London, particularly on overseas trade missions. For example, in 2019, representatives of the FSG took part in a five-city visit to China, engaging with local financial institutions and government officials to strengthen economic ties with London.[5]

The FSG also hosts briefings and meetings for overseas delegations visiting the City, working in partnership with Mansion House and the City of London Corporation.[3]

Events and Thought Leadership

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The FSG organises regular events on topics relevant to the financial services sector, including panel discussions on sustainable finance and post-pandemic recovery. It also facilitates cross-livery forums and contributes to the Pan-Livery Initiative, including survey analysis and feedback sessions.[2]

Education and Outreach

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Since 2017, the Group has co-sponsored the annual Sheriffs’ Challenge, a public speaking competition for sixth-form students in London. Finals are held at the Old Bailey, and participants are mentored by members of the livery companies. The event is co-managed with the Worshipful Company of Educators and promotes public understanding of the City’s role.[6]

See also

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References

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  1. ^ a b c https://liverycommittee.org/livery/financial-services-group/
  2. ^ a b c d https://www.wcib.org.uk/about-us/financial-services-group
  3. ^ a b https://www.tomd.co.uk/news/livery-companies-embrace-financial-sector/
  4. ^ "News and Events | News | 1172 | City Elects Sheriffs of London for 2022 2023 | the Lord Mayor's Appeal 2025".
  5. ^ https://wcomc.org/news/2019Aug20_FSG_trip_China
  6. ^ "The Sheriffs' Challenge". 30 March 2017.
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