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Overview
The Strategy for the Financial Services Industry in Scotland aims to deliver the vision of:
An innovative, competitive and thriving international financial services industry in Scotland, underpinned by world-class infrastructure and universally recognised as a leader on the global stage.
Effective partnership working across the public and private sectors has delivered progress across all areas.
The Financial Services Advisory Board ( FiSAB), the pioneering collaboration between the financial services industry, trade unions, the Scottish Government, Scottish Enterprise ( SE) and Universities Scotland, is the custodian and advocate of the Strategy for the Financial Services Industry in Scotland (the Strategy).
In leading the development of the Strategy in 2003, the Financial Services Strategy Group ( FSSG), comprising industry leaders, trade unions, government and the wider public sector, formed a unique and equal partnership to define the environment which would ensure that Scotland remains home to an innovative, competitive and thriving financial services industry. The Strategy, launched in March 2005, was a culmination of this work.
FiSAB is supported by the Financial Services Implementation Group ( FiSIG) which delivers the Strategy.
In May 2006 the first Annual Report was published, highlighting achievements and forward plans as well as identifying the continued success of the industry. The Annual Report proved a successful platform to publicise not only the Strategy, but also Scotland's position as a leading financial services centre. The second Annual Report was published in March 2007 and provided a summary of achievements in the second year of the Strategy, comparative data on the strong progress made by the industry in Scotland and an outline of plans for Year 3 and beyond.
This third Annual Report sets out achievements in Year 3, which build on and broaden the success to date. In 2007 there was significant change in the political environment in Scotland with the election of the first Scottish National Party Government. The partnership of FiSAB and FiSIG has been continued by the new Government, consolidating its position as a highly successful collaboration. All partners are continuing to drive forward the Strategy and contributing to achievements across all three strategic pillars (see diagram opposite). This task is ever more important given the significant change in the global economy.
Looking to the future, ambitious plans have been set out to meet the challenges and opportunities ahead. FiSAB and FiSIG remain committed to adding to the significant progress already achieved, to ensuring that plans meet current industry needs, and also reflect the anticipated future shape of the industry.
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