The City of London Corporation has started a search for a CEO to lead the new Centre for Finance, Innovation and Technology in the United Kingdom, charged with unblocking barriers to growth for fintech.
The development of the CFIT was a critical recommendation of the 2021 Kalifa Review of UK Fintech. HM Treasury approved the project in the 2021 Spending Review, allocating £5 million to fund its creation.
CFIT’s primary objectives are to bring together time-limited ‘coalitions’ of experts to address challenges to fintech industry growth; and to support the development of high-income, tech-based employment nationwide; companies achieving global scale; and to enhance access by citizens and some small businesses to financial services.
The next (incoming) CEO is expected to have a major understanding of the financial innovation network in the United Kingdom, including the integral role of the financial services and technology industries, government, and regulators. This job ad says:
“The CEO will need to demonstrate clear leadership in delivering against the strategy that they develop to guide the work of CFIT. This will include recruiting a high-performing executive team. The long-term funding and sustainability of CFIT are 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 decided to retain Russell Reynolds Associates for advice on that appointment.