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Peer2Peer Finance News | August 14, 2018

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Chancellor appoints fintech envoys for Wales and Northern Ireland

Chancellor appoints fintech envoys for Wales and Northern Ireland
Kathryn Gaw

FINTECH envoys have been appointed for Wales and Northern Ireland, to help the sector flourish after Brexit.

Richard Theo, co-founder and chief executive of Wealthify, has been named fintech envoy for Wales, while Georgina O’Leary, director of innovation, research and development at Allstate Northern Ireland has been named fintech envoy for Northern Ireland.

“Fintech is the future of financial services, and the UK leads the world in harnessing its power. Our two new regional fintech envoys for Wales and Northern Ireland will help the sector to grow and flourish across the UK, bringing its benefits to every region,” said Chancellor Philip Hammond.

“I’d like to congratulate Richard Theo and Georgina O’Leary on their new roles. I am certain they will build on the success of the existing envoys in helping the UK to remain at the cutting edge of the digital revolution as we create an economy fit for the future.”

Read more: UK government unveils first fintech strategy

Theo and O’Leary join current envoys David Ferguson, chief executive of Nucleus Financial, and Louise Smith, head of current account design for RBS, who have been named fintech envoys for Scotland. David Duffy, chief executive of CYBG, has been appointed fintech envoy for England, while Chris Sier, professor of financial technology at the University of Leeds is the fintech envoy for the Northern Powerhouse.

The new roles will be officially announced during the chancellor’s visit to financial centres in Halifax and Edinburgh on Thursday, where he is expected to meet leading figures in fintech to discuss how the government can support the sector after Brexit.

“Over a million people across the country are employed in our financial services sector, and it is truly a nationwide industry, with two thirds of the jobs based outside London,” said Hammond. “It fuels growth across the regions and is a vibrant part of our economy.

“Across the UK, from the local high streets to the regional financial centres, the skills and expertise of the people working in the sector are unrivalled, and I am determined to maintain our world-leading position at what is a crucial period for the industry.”

Read more: New government envoys to support Scottish fintech