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2006 Annual Report
ISBN 0 7559 5088 7
This document is also available in pdf format (232k)

Contents

Forewords
Overview

Achievements
People and infrastructure
Profile
Innovation

Continued success
Summary
Contribution to the economy
Employment
Qualifications
International benchmarking

Looking to the future: Year two plans
People and infrastructure
Profile
Innovation

The Financial Services Advisory Board ( FiSAB) is the custodian and advocate of the Strategy for the Financial Services Industry in Scotland.

Current members of FiSAB are:

The Rt Hon Jack McConnell MSP, First Minister of Scotland - FiSAB Chair
Nicol Stephen MSP, Deputy First Minister of Scotland
John Campbell - Chairman, Scottish Financial Enterprise ( SFE) and Managing Director,
State Street Corporation - FiSAB Industry Deputy Chair
Graeme Dickson - Head of Enterprise & Industrial Affairs Group, Scottish Executive
Ian Ferguson - Director of Underwriting (Commercial), Norwich Union
David Fleming - National Officer, Amicus
Martin Gilbert - Chief Executive, Aberdeen Asset Management
Trevor Matthews - Chief Executive Life and Pensions UK & Europe, Standard Life
Jack Perry - Chief Executive, Scottish Enterprise
Lisa Stephenson - Director, Lloyds TSB Scotland
Ben Thomson - Chief Executive, Noble Group
Otto Thoresen - Chief Executive, Aegon UK
Margaret Wallace - Executive Director, Morgan Stanley
Willie Watt - Chief Executive, Martin Currie

Thanks are also given to Sandy Boyle, Amicus; Mike Jones, Lloyds TSB Scotland; Jim McFarlane, Scottish Enterprise Edinburgh and Lothian; Martin Togneri, Scottish Development International; and David Wallace, now of Response Handling Ltd; whose work contributed to this report and who have stepped down from FiSAB during the past year.

The delivery of the Strategy is managed by the Financial Services Implementation Group ( FiSIG). FiSIG's membership reflects that of the FiSAB partnership.

Looking to the future: Innovation

Aims:

• ensure that the financial services industry based in Scotland is able to maintain competitiveness and exploit market opportunities, by supporting and encouraging industry innovation
• build opportunities for financial services firms to gain competitive advantage from the world-class excellence of Scotland's further and higher education provision
• improve the competitiveness of the Scottish supply network

Specific actions:

15. Encourage and support continuing innovation and best practice within the industry and its supply network in Scotland, by delivering a programme of seminars and events that will bring together leading industry thinkers, experts and academics. This will link with existing initiatives such as Scottish Financial Enterprise's The Innovators awards initiative.
16. Foster greater innovation by extending and tailoring promotion of the range of public sector support available to the industry.
17. Develop an understanding of the benefits delivered by existing strong links between the industry and the Scottish and international academic community. This will be used to inform a wider exploration with the industry, and other interested stakeholders, of how the potential benefits of such links might be maximised.
18. Strengthen the capabilities and competitiveness of the Scottish supplier community, by continuing to bring together suppliers and financial services companies. Business support activity with individual companies will complement and enhance this work.

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