City of London recruits for fintech centre CEO

City of London recruits for fintech centre CEO

The City of London Corporation has begun a search for a CEO to lead the new Centre for Finance, Innovation and Technology in the UK, charged with unblocking barriers to growth for fintech.

The creation of the CFIT was a key recommendation of the 2021 Kalifa Review of UK Fintech. HM Treasury gave the green light to the project in the 2021 Spending Review, allocating £5 million to the fund its creation

CFIT’s core objectives are to bring together time-limited ‘coalitions’ of experts to address barriers to fintech sector growth; and to support the creation of high-income, tech-based employment nationwide; firms achieving global scale; and improving access by citizens and small businesses to financial services.

The incoming CEO is expected to have a deep understanding of the financial innovation ecosystem in the UK, including the role of the financial services and technology sectors, regulators, and government.

"The CEO will need to demonstrate clear leadership in delivering against the strategy that they develop to guide the work of CFIT," the job ad states. "This will include recruiting a high performing executive team. The long-term funding and sustainability of CFIT is key to its success. This should be a priority for the CEO from the outset and they will need the necessary experience in managing a business, its finances and relationships with seed and follow-on investors to ensure that the entity can function effectively from a funding perspective."

The City of London Corporation has retained Russell Reynolds Associates to advise on the appointment.

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