Lee Wild, Head of Equity Strategy at Interactive Investor comments for Finance Monthly:

On the FTSE 100 rally:

There have been a number of key drivers behind the FTSE 100’s latest rally, among them a weaker pound, likely increase in UK interest rates, government housing policy and a lack of any viable alternatives for investors.

There’s an inverse relationship between sterling and the FTSE 100. A weak currency is great news for the FTSE 100’s army of overseas earners who receive a windfall when expensive dollars are converted back into sterling. The US economy is thriving too, and many UK companies, like Ferguson (the old Wolseley), InterContinental Hotels and Ashtead, make much of their money there.

A more hawkish Bank of England has been good for banks, which typically generate higher margins when interest rates rise. The government’s promise to extend the Help to Buy scheme is also a massive boost to UK housebuilders Barratt Developments, Persimmon and Taylor Wimpey.

While it’s true there are fewer bargains around, investors can still find plenty of companies trading on reasonable valuation multiples paying a generous and affordable dividend. And it’s much harder to find the level of returns on offer from equities in other liquid investments.

This should underpin confidence in the stockmarket and possibly steer the FTSE 100 to an all-time high at 7,600, especially if Brexit talks go badly or a threat to Theresa May’s leadership puts pressure on sterling.

On Bitcoin:

The value of bitcoin has almost doubled in less than a month which is clearly attracting further interest from speculators. There’s evidence of growing institutional activity, too, and if China reopens cryptocurrency exchanges after the Communist Party Congress which starts next week, some believe the price could reach $10,000 by the end of the year.

However, there could be near-term turbulence around changes to the code the bitcoin network runs on, due to be implemented in mid-November.

It is crucial that retail investors understand the many risks involved in cryptocurrency trading, not least the volatility - bitcoin has lost more than a third of its value on two occasions since June. It is clearly not for the faint-hearted.

There are mixed thoughts across the UK on the current state of the property market and the prospects to come. In some regions economists believe it’s the best it’s been in the last ten years, while others are confident in the current slump, particularly in London. Here Paresh Raja, CEO of Market Financial Solutions (MFS), talks Finance Monthly through his thoughts on the future of the UK property market.

The UK has developed something of an obsession with homeownership. While our European neighbours are content with long-term leasing contracts, homeownership in the UK is as much of a personal milestone as it is a popular financial investment – a report by YouGov found that 80% of British adults are aspiring to buy a property within the next 10 years. As an investment, property is a resilient asset able to withstand periods of market volatility. At the same time, price appreciation as a consequence of demand positively contributes to home equity, increasing its resale value and potential to deliver long-term returns.

The allure of residential real estate has remained consistently high in the UK, and the Brexit announcement has done little to dampen investor appetite for property. The average house price has risen by an average of 0.37% per month since the referendum vote in June 2016. Should this trend continue, house prices could rise by as much as 50% over the next decade. While an impressive feat, the same YouGov report stated that 85% of respondents believes that owning a home is very difficult in today’s economic climate.

To ensure homeownership remains an attainable goal, the Government has pledged to increase the housing stock by promoting the construction of new homes across the UK. A housing white paper released earlier in the year has also set out the Government’s plan to reform the housing market and contribute to housing supply, though little has been done since then to demonstrate the Government’s commitment to supporting property investment. While this is a welcome measure, such a pledge needs to be informed by a long-term strategy that lays down the foundations for the ongoing support of the property market against any future economic and political shifts.

Of course, there are variety of different avenues for aspiring homeowners to jump on the property ladder should they struggle to acquire finance from traditional lenders. The Bank of Mum and Dad (BOMAD) has fast become a leading source of finance for millennials struggling to acquire a mortgage or buy a house in a desirable location. Parents are predicted to lend over £6.5 billion in 2017 to support the property aspirations of their children – a 30% increase on the amount loaned in 2016.

Considering the amount of property wealth that has been amassed by UK retirees and the Baby Boomer generation, the transfer of such wealth through inheritance constitutes a significant proportion of property transactions – a study by Royal London anticipated that over the coming decade, £400 billion worth of real estate would be passed on from older generations to those aged between 25 and 44. This transition will have profound impact on the wider property market.

Recent research commissioned by MFS found that that 36% of people across the country will be inheriting a property – equivalent to 18.64 million people. Interestingly, the research found that over half of people due to inherit a property will be looking to sell it as soon as possible so they can re-invest the money in a different asset or property of their choosing. A third would also look to take advantage of the long-term returns on offer by undertaking some form of refurbishment so that the house is in a better condition to sell or place on the rental market.

The challenge remains for the property sector to provide clear guidance around the options that exist for those seeking to maximise the potential gains of their real estate inheritance, while at the same time bringing new properties onto the market in improved conditions. Taking into account the full range of trends underpinning the property market, homeownership does not have to be an attainable goal for the few. The market is at a critical juncture, and with demand for property consistently high, there are likely to be significant opportunities arising over the coming year.

“The Minicorn Club is for FinTech start-ups that are aspiring and aiming to become Unicorns,” explained Jessica Williams, Event Manager of PayExpo Europe before adding “and there are many exciting new businesses in the payment sector that deserve recognition in this way.”

“Thousands of start-ups in this sector are jostling for position, chasing the right support, advice and exposure to build a competitive product, attract investment and achieve scale.

“Despite Brexit and its associated fallout, investment in UK FinTech start-ups has recovered and is on the rise with over half a billion dollars invested in the first half of 2017.  The opportunities are out there.”

Nine Minicorns in the payments sector will have the chance to demonstrate their talents and businesses at PayExpo Europe, taking place at ExCeL London on 4^th & 5^th October.

The Minicorn Club, which is sponsored by Addleshaw Goddard’s AG Elevate, is showcasing some of the brightest new companies that are competing to be the next Unicorn.

Alongside the exhibitors there is a dedicated networking area where investors and start-ups can meet. It is also an opportunity for start-ups to apply to join the AG Elevate Programme.

The nine Minicorns on show will be:

• Cashaa – a blockchain-powered forex platform
• Dualitybanx – a forex product for those who work with multiple currencies
• Know Your Customer - the world's only fully integrated platform that delivers rapid ID verification for both individual and corporate customers
• New Gen – a multi-channel e-commerce & international payment solutions provider
• ShieldPay - a payment service provider and instant digital escrow service that enables secure transactions and payments between consumers all over the world
• Tide - a bank specially for small business customers
• Trezeo - provides financial stability for self-employed workers in the gig economy by turning unpredictable income into regular payments
• Zensed - a truly automated fraud prevention system powered by artificial intelligence and advanced machine learning modelling
• 1partPet – GPS technology collars for finding cats and dogs

“Is the next $1 billion start-up among them? Why not come to find out?” concludes Jessica Williams.

(Source: PayExpo Europe Press Office)

According to the statistics, Price Central London began to witness a recovery in Q2, both in sales volumes and prices. This follows 2 years of stagnation as buyers held back due to Brexit and residential tax headwinds. The increase in average prices, however, can largely be attributed to a surge of high value sales with buyers taking advantage of price discounting at the luxury end of the market. Underlying price appreciation for the rest of the market remains significantly less buoyant.

England and Wales and Greater London continue to see falling transactions and slower overall price growth, impacted by the introduction of mortgage caps, the instability in the domestic economy and the growing new build crisis.

Price Central London (PCL)

• Sales volumes have strengthened slightly, with an annual increase of 4.8% to 3,885
• Average prices reached £1,946,151 in Q2 2017, representing quarterly price growth of 7.9%
• Despite the statistical increase, this has been buoyed by a number of high value transactions and an increasing proportion of luxury sales
• Q2 2017 saw the most expensive sale ever to transact through Land Registry at £90m for a flat in 199 The Knightsbridge Apartments
• As a result, the top 10% of the market performed particularly strongly in Q2, seeing a 20% increase in average prices to £8m
• The most active sector this quarter was the £5m - £10m bracket, where the proportion of sales increased by 23% over Q1
• Excluding the top 10% of the market, average quarterly price growth was 4.5%
• Growth in the buy to let sector was the most sluggish with a 1.3% increase in average prices for property under £810,000

Average prices in Prime Central London reached £1,946,151 in Q2 2017, following quarterly price growth of 7.9%. Despite a slow down as the market adjusted to increased residential taxation and Brexit, this recovery is, in part, a result of buyers seeking safe havens in the face of increasing uncertainty as tensions mount in the USA, Middle East and worldwide, together with the attractions of weak sterling and low interest rates.

Transactions in PCL have strengthened marginally in Q2, following a prolonged period of falls from 6,044 in Q2 2013. According to LCP’s analysis, 3,885 sales have taken place over the last 12 months, representing a small increase in annual sales of 4.8%.

Notwithstanding the headline figures in Q2, a detailed analysis indicates that price increases have been buoyed by a number of significant high value sales, including £90m for a flat in 199 The Knightsbridge Apartments, the most expensive sale ever to transact through Land Registry. As a result, a particularly strong performance has been seen for the top 10% of the market with prices increasing 20% to average £8m. With this excluded, average growth falls from 7.9% to a more typical 4.5%.

However, whilst homebuyers have capitalised on luxury property discounts, a divergent dynamic is being seen in the lower value market. Price growth in the buy to let sector was the most sluggish, reflecting a 1.3% increase for properties under £810,000. The proportion of sales under £1m also decreased by 9%, compared with a 20% increase over £5m.

Naomi Heaton, CEO of LCP, comments: “The increase in average prices appears to reflect a greater proportion of high value properties being sold, rather than any significant underlying growth. Not only have we seen some very large individual sales but transaction data shows the £5m - £10m bracket was the most active in Q2 with a 23% increase over Q1. This can be attributed to international homebuyers taking advantage of notable price discounts, alongside beneficial currency exchange rates. The buy to let sector, on the other hand, is seeing a much slower picture as investors continue to adopt a wait and see attitude.”

“Looking at the monthly breakdown gives us a clearer picture of what is really happening in the market overall. Whilst bumper transactions boosted average prices to as high as £2.2m in April and May, which included the most expensive sale to register through Land Registry at £90m, June reflected a more sedate picture with average prices falling back to £1.65m.”

Greater London

• Average prices have shown quarterly price growth of 4% and now stand at £634,234
• However, annual transactions fell by 24% in Q2, resulting in a low of 88,545 sales, half those 10 years ago

Heaton comments: “Greater London is principally a domestic market and whilst prices continue to show growth, slowing sales volumes reflect the current state of the UK economy. Concerns around Brexit have impacted the ‘feel good’ factor which drives buyers’ decisions, whilst affordability issues resulting from caps on mortgage lending have hampered buyers ability to trade up or get onto the housing ladder. Falling sales volumes are also exacerbated by problems within the new build sector. This has seen international speculators pull back in the face of uncertain or negative returns. It is reported that the number of new building starts in London will fall to just 21,500 this year, meaning only 18,000 new homes will be built by 2021.”

England and Wales

• Average prices in England and Wales have shown almost nil quarterly price growth at 0.27% and now stand at £287,823
• Transactions fell by 12% in Q2 with 844,380 sales annually, the lowest since Q2 2010

Heaton comments: “Despite Government measures to reduce Stamp Duty for 98% of the market and schemes to promote activity such as Help to Buy, weaker sentiment and restrictions on borrowing continue to impact on the domestic market in England and Wales. With static price growth in Q2 and annual transactions levels falling a further 12.3%, the Government seriously needs to address the growing affordability issues within the sector and support the building of more low-cost housing for buyers. The artificial stimulus packages and tax reliefs do not appear to be reinvigorating new buying activity.”

(Source: London Central Portfolio Limited)

In a surprising turn of events, foreign investors don’t seem to be put off by Brexit. In London over 99 financial projects were backed by overseas investment beating out the likes of Paris and Berlin, foreign entrepreneurs are actively seeking out the Entrepreneur Visas to come to the UK.

Globalisation: The next stage business

Expanding business holdings on an international is the move for the 21st century, whether it’s opening a foreign franchise or taking over an existing company, the exploration of a new country’s economy can put businesses ahead of competition.

The UK is currently attracting pioneering business women and men as one of the biggest investment hubs in the Western world, a great international pedigree, and a fantastic business time zone. With over a billion-pound worth of investment in the city of London over the past 12 months, it’s clear to see that over Brexit worries are not slowing down business opportunities,

The Visas

There are many ways to enter the UK but for those looking to pursue a successful career and make the most of the UK economy an Entrepreneur, Visa will definitely be the best option. This visa defined as a ‘Tier-1’ is for prospective business people from outside the European Economic Area and Switzerland who are looking to either set up or run a business in the UK. For those looking to go to the Capital, an immigration lawyer in London would be able to guide through the steps for a successful application.

(Source: Immigration Advice Service)

The UK’s financial sector is the biggest and most respected in the world, with the City of London acting as a magnet for investment and industry talent. Here Craig James, CEO of Neopay, discusses with Finance Monthly the potential impact the FCA could have through its engagement in fintech beyond the City.

Most recently the capital has been a hotbed of innovation in the financial technology – fintech – sector, with a number of start-up accelerators and new companies coming onto the scene to challenge the established industry.

But with the confusion over Brexit now firmly in people’s mind, many are concerned that London’s position as a leading financial centre and the focal point of the EU’s fintech industry may be under threat.

Other EU countries are beginning to respond to this and attempting to entice fintech businesses away from London and the UK.

As a result, the British government and its financial regulator appear to be doing more than ever to boost the UK’s share of the fintech market.

This is definitely a good time for fintech businesses, as governments across the world compete for their business, and this is even more apparent in Europe and the UK as a result of Brexit.

In one of its latest initiatives, the British government are looking specifically beyond the borders of London to help boost fintech hubs in the rest of the UK and encourage greater development of fintech across the country.

Expanding access to regulation beyond the capital

Britain’s financial watchdog, the Financial Conduct Authority (FCA), has recently announced that it is to expand its regulatory support across the UK in efforts to aid emerging financial technology hubs based outside of London.

Specifically, the regulator is looking to areas with both a strong financial centre and technology presence.

Historically, fintech business have predominantly come from London due to its proximity to tech funding and major financial institutions as well as government and regulatory bodies.

Looking around the rest of the world, these four factors have been key in the success of fintech companies.

But devolution of government, the rise of non-London tech hubs and the increasing willingness of banks to have a presence in other major cities around the UK, means there is greater potential for fintech businesses to spread far beyond London, just at the time the country needs to solidify and expand its position in the world’s financial and technology markets.

Speaking to the Leeds Digital Festival earlier this year Christopher Woolard, executive director of strategy and competition at the FCA, identified emerging hubs in the Edinburgh-Glasgow corridor and the Leeds-Manchester area as significant areas for potential growth.

The developing “FiNexus Lab” in Leeds – a collaboration between local government, industry, and central government – is laying solid foundations for fintech firms to flourish in the city, while in Manchester, Barclays’ “Rise” hub and “The Vault”, a 20,000 sq ft co-working space for fintech firms in Spinningfield’s business quarter, is improving the conditions for innovative firms to collaborate and grow.

The FCA has also been seeking to assist up and coming fintech businesses through its “sandbox” scheme, which helps firms to experiment with innovative products, services and business models.

About two thirds of the scheme’s first cohort was London based, but a rash of regional interest has seen nearly half of applications for its latest round come from outside the capital, highlighting the growth of fintech across the UK.

Non-London fintech companies are also seeing an increased interest in investment with Durham based Atom Bank recently securing £83m of funding from investors including Spanish bank BBVA, fund manager Neil Woodford and Toscafund Asset Management.

Not an entirely new trend

While encouraging new fintech companies outside of London has just recently become a focus of the FCA, it is not an entirely new concept and as far back as 2014 politicians, as well as financial and technology bosses, were calling for an expansion of the UK’s fintech sector beyond the boundaries of London to fully recognise its potential – long before the possibility of Brexit became a reality.

For instance, Eric van der Kleij, head of Canary Wharf based start-up accelerator Level39, has been one of the leading fintech figures suggesting that a business’ location isn’t a factor in whether it will be a success, pointing particularly to Manchester as a place where fintech companies were performing strongly.

One of the major hurdles, and a major barrier the FCA is now seeking to breach with its latest commitment, is that much of the regulatory framework emanated from London, with businesses based outside of this area – particularly those further towards the north and Scotland – struggling to get access to the kind of help they needed.

Speaking at the Leeds Festival, Christopher Woolard said the FCA now wanted to make it “as easy as possible” for firms to engage with the regulator and get access to the advice and help they needed to get into the market.

While many businesses have been able to set up outside of London and travel, sometimes great distances, to access this regulatory assistance, actively moving this help closer to businesses could be a significant benefit to new businesses, and a boost to British fintech at a time when it most needs it.

Increasing Brexit Britain’s competitiveness

The global fintech market is one of the fastest growing sectors in the world and, according to European Union figures, the value of investment into the sector reached $22.3bn by the end of 2015, a 75% increase on the year before.

Since 2010, large corporates, venture capitalists and private equity firms have invested in excess of $50bn into nearly 2,500 global start-ups since the start of the decade.

In the UK, the fintech sector – enveloping everything from online lending to applying blockchain to capital markets – is worth about £7bn to the economy, while more than 60,000 people are employed in the sector.

Looking at the UK’s global positioning, the country is second only to the United States in prominence on the top 100 fintech list, compiled by KPMG.

But while many of the UK companies on the list are London based, the highest based company, and the only UK business to breach the top 10, is based outside London.

The fact that a non-London business is the country’s highest valued fintech business is significant if we are to continue to convince new businesses to set up in the UK.

This is particularly important as other EU countries are attempting to take advantage of the confusion surrounding Brexit and boost their share of the fintech market.

A new public-private partnership, “House of Fintech” was recently set up in Luxembourg to attract companies to set up in the country, while French lobbyists have been making efforts to entice fintech businesses to relocate from the UK to Paris.

Even outside of the EU, steps are being taken to replicate the innovation and success being seen in the UK and The Monetary Authority of Singapore has moved to copy the FCA’s “sandbox” scheme to improve the prospects of its own fintech market.

With the UK’s future position in the single market still not fully known, and not likely to be defined for another year at least, the UK government knows it needs to maintain its popularity for fintech businesses.  These businesses need to be given an even greater chance to succeed if the UK is to maintain its strong position during the Brexit negotiations and fend off the competition.

We can expect to see further new initiatives from the UK aimed at making that a reality and more positive developments for fintech as European countries compete for their business.

With wage inflation stagnating below the rate of increased property prices, it has become very difficult to get a firm foothold on the London property ladder. Many people have therefore been forced into the private rental sector; signified by nearly one in three London household’s renting privately.

Despite the tremendous growth for the sector itself, the increased demand has driven up private rental values. Especially in London, where the average rent for a one bedroom property is a substantial £1,329 per month.

Sellhousefast.uk analysed data from the Office of National Statistics (ONS), revealing that single tenant’s in 25 of London’s 32 boroughs are sacrificing more than 50% of their monthly salary (after income and council tax deductions) on rent for their one bedroom property.

Single tenants living in a one bedroom property in Kensington and Chelsea are sacrificing an astonishing 85% of their monthly salary on rent – the highest out of all the London boroughs.

Single tenants in Kensington and Chelsea are then closely followed by those in Hackney – who give up 81% of their monthly salary to pay for rent on their one bedroom property. In third place is Westminster, where single tenants use up 79% of their monthly salary to pay rent for their one bedroom property.

Single tenants in Bromley as well as Havering, sacrifice the joint lowest percentage of their monthly salary on renting their one bedroom properties in London at 42%. Redbridge (49%), Merton (49%) Richmond upon Thames (48%) and Bexley (43%) are the other London boroughs where single tenants sacrifice less than 50% of their monthly salary on a one bedroom property.

Sellhousefast.uk asked a couple of single tenants living in a one bedroom property in London about their experience of renting.

Jessica, 26, has been renting a one bedroom property in Southwark for the last two years: ‘I am giving up a lot of my monthly income on renting a one bedroom in Southwark. It’s frustrating but I only tolerate it due to the convenience of living a short distance away from my workplace. It’s ideal as I start early and finish late most days. The biggest benefit is that it eradicates any time that I would lose through commuting if I lived outside the area. A lot of my colleagues are also currently doing the same thing as me. Whilst most are unhappy about giving up such a huge proportion of their salary on rent each month, it’s ok for the short-term. But in the long-run, it isn’t sustainable, as I wouldn’t be able to secure a deposit for a property of my own.’

Chris, 29, has been renting a one bedroom property in Hounslow for the last four-years: ‘Rent in London is truly extortionate. For the past three years, over half my monthly salary has gone on covering rent. On top of that, I have to pay for my food, utilities and travel every month – so I am not left with much to save, let alone enjoy any leisure activities. With me nearing thirty I want to settle down with my partner and this tiny one bedroom flat is certainly not going to suffice for the both of us. We have started to look at bigger properties in Hounslow, as we both work in the area. With rental prices as they are in London, it might be an uphill struggle for us’.

Robby Du Toit, Managing Director of Sell House Fast commented: “Demand has consistently exceeded supply over the last few years, Londoner’s have unfortunately been caught up in a very competitive property market where prices haven’t always reflected fair value. This notion is demonstrated through this research whereby private rental prices in London are certainly overstretching single tenants; to the extent they must sacrifice over half their monthly salary. For those single tenants with ambitions to climb up the property ladder – their intentions are painfully jeopardised, as they can’t set aside a sufficient amount each month to save up for a deposit or explore better alternatives. It’s not only distressing for them but worrying for the property market as a whole – where the ‘generation rent’ notion is truly continuing too spiral further.”

(Source: Sellhousefast)

The Mayor of London, Sadiq Khan, and the Mayor of Paris, Anne Hidalgo, recently announced new business and tourism collaborations to attract international visitors to both cities and help companies based in London and Paris to expand into new international markets.

The agreement will, for the first time, jointly showcase London and Paris to overseas visitors, while a new initiative called the Paris-London Business Welcome Programme will encourage and facilitate the flow of trade and investment between the two cities.

The announcement comes just one day before the UK government triggers Article 50, beginning the formal process of withdrawing the UK from the European Union.

The cities of Paris and London have made a choice to focus on constructive alliance, rather than competition. Since the EU referendum the two cities have been working to facilitate the joint domiciliation of companies in London and Paris, to ensure that entrepreneurs are able to develop their business in both markets.

The Mayor of London, Sadiq Khan, said: "London and Paris are two of the greatest cities in the world and we have so much to gain from joining forces. Never underestimate the incredible benefits to be found when major cities do business together. Our great friends in Paris and across the continent are well aware that working closely together remains to our mutual benefit."

The Mayor of Paris, Anne Hidalgo, said: "Paris and London share common values and willpower. We want to be attractive to companies all over the world. Since the election of Sadiq, our two cities have been working better together. We are developing new exchanges and new projects. All these initiatives will create employment, activity and economic growth. It is a very positive dynamic that the Brexit will not change."

Developing tourist exchanges between the two cities

Visitors to London and Paris spend in excess of £30bn (34 billion Euros) per year and the tourism economy in both cities supports 1.2million jobs.

The tourism agreement, which will launch in 2018, will focus on key drivers for international visitors to both cities, such as culture and heritage, and combine the resources of VisitLondon.com and Parisinfo.com.

An ambitious partnership for start-up exchanges

The Paris-London Business Welcome will build on both cities' business strengths and follows a statement last year from both Mayors that Paris and London would work more closely together to make the London-Paris' 'win-win partnership' even stronger.

The Paris-London Business Welcome programme will include assistance with company set-up, access to co-working space, introduction to the local tech ecosystem and networking, and discounted accommodation. Eurostar will also provide entrepreneurs with preferential rates on their services.

A common economic dynamic

London receives more inward investment from Paris than any other global city, attracting £2.6bn and generating almost 10,000 jobs over the last ten years. Paris, in comparison, is the largest European destination for foreign direct investment from London. Since January 2006, over 160 London-based companies have set up in Paris, creating 7,500 jobs in the city.

As part of the Mayor's International Business Programme, Sadiq was accompanied by a trade delegation of 15 of London's fastest growing companies on his visit to Paris. The companies were given the opportunity to showcase their innovations, meet with leading investors and explore export opportunities in the city.

(Source: londonandpartners.com)

The CFO Agenda will return to London on 1^st June. Ahead of this year’s event the team reached out to 150+ CFO’s and FD’s from across Europe to understand the key opportunities for their businesses across the next year.

The CFO team have polled leading CFOs and finance leaders from across the UK and Europe on their priorities, concerns and plans for the future. The responses gathered reveal insights on the changing nature of the finance profession and the CFO role, immediate and long-term risks facing the business, the level of financial uncertainty affecting the business and the biggest opportunities over the coming years.

It is clear from the survey that CFOs are heavily impacted by the macro-environment and face an uncertain future trading in a volatile environment. Digitalisation is becoming increasingly more integrated within the finance function and is slowly being accepted as an opportunity for smart, evidence-based decision-making, but we still have a way to go to convince finance of the ROI on expensive new technologies. The changing nature of the CFO role is an opportunity for driven finance professionals to lead change and transformation within their organisation and prepare robust strategy and finance models for the future. The skills shortage across roles and industries is widening the talent gap and finance has a responsibility to create innovative strategy to prepare for the future of work and a new generation of workers. Change affects us all and with change comes exciting new opportunities for the future. It is not all doom and gloom; growth and internationalisation is still high on the agenda for CFOs and we hope to see a steady rise in the economy as we learn to accept our situation and grow in new markets and geographies.

Opportunities for business in 2017

Launching into New Geographies

With all the uncertainty and doubt surrounding the UK economy, launching in overseas markets can add valuable extra sales (and profits) which in turn can help generate economies of scale on the existing cost base. This appears easier than it is, but customers are always on the lookout for something different and so a clear and unique proposition that is well marketed can help you stand out from the competition.

Staff Engagement

It’s no surprise that successful companies tend to have highly engaged teams that seem to be able to achieve things other businesses can only dream of. Furthermore, the most engaged teams tend to be aligned with one another making it far easier to continually achieve business goals and objectives which can be an enormous contributor to productivity throughout a business. In this time of competing priorities and deadlines, it’s never as easy as it seems to get everyone engaged so it’s a case of regularly trying new ideas and methods.

Technology and Innovation

Nowadays IT is a fundamental part of almost every business and most businesses have a long list of improvements they would like to make to their IT infrastructure, each of which could improve some part of the business. The challenge for CFOs is to work out which of these improvements is really going to deliver sizeable benefits and give them a competitive edge. Once identified, it’s then a matter of getting it in on time and on budget.

(Paul O’Leary, CFO, Boden)

Technology and Innovation will be a core focus at this year’s CFO Agenda 2017, as we welcome Steve Dixon, VP Future Finance, Unilever to discuss how finance can embrace the digital world and unlock value across the business.

Steve’s session will explore the importance of setting a clearly defined and unified digital strategy and will identify best practice on how technology can strengthen the role of finance and the impact the CFO can have on the organisation.

For more information on the programme, please visit www.TheCFOAgenda.com/programme-2017.

To find out more about the event, please visit www.TheCFOAgenda.com.

Movinga, Europe’s leading online removals platform, has released a study revealing the cities in which London professionals displaced by Brexit would feel happiest. Dublin is the most favourable city for bankers, based on the average high-end rent prices, language spoken, cuisine, luxury stores and bars, pushing the cities of Frankfurt and Paris unexpectedly far down the list. Startup employees, on the other hand, should try to convince their boss to consider Berlin due to the low income tax rate, average rent, number of co-working spaces, travel costs and the widespread use of English.

There is much uncertainty surrounding the future of London’s banking sector and it is widely reported that banks, British and foreign ones, are looking to move a large part of their workforce to cities such as Frankfurt and Paris. Movinga’s new study shows, however, that the banks might be overlooking the needs of their employees, who are likely to want to continue enjoying an excellent choice of restaurant and bar options, while wanting to keep the costs of monthly essentials, ranging from dry and house cleaning to gym membership, to a minimum. According to the study, Dublin ranks first and is followed by Amsterdam in second and Valletta in third, while Frankfurt trails far behind in sixth place and Paris in ninth.

What is important for bankers is often unaffordable for startup employees. Their requirements are directed more towards travel costs, combo lunches, shared rent prices as well as the price of beers instead of expensive cocktails. Rather than an office in a high rise, they also prefer to have an array of co-working spaces to choose from. The study confirms what many already believe: Berlin is the up and coming startup capital of Europe, closely followed by the cities of Warsaw and Budapest, in second and third place respectively.

“Everyone talks about Paris and Frankfurt as the new financial centres of Europe after Brexit,” said Finn Hänsel, Managing Director at Movinga. “But other cities like Dublin, Valletta, Luxembourg and Amsterdam may actually be better equipped to make these workers feel happy and at home. Individuals and businesses alike should consider the unique factors important to their relocation before planning their move.”

City Banker Index: Results

The results reveal that Dublin is the most desirable city for London bankers to relocate to, scoring high for proximity (70 minute flight), English language comprehension (100%), and more affordable high end rent prices (£1,669.08).

Milan was found to be the least desirable city for London bankers to relocate to due to the expensive high end rent (£2,461.00), the long distance from home (130 minutes), expensive flight tickets (£180.78), and low English comprehension (34%).

*In total, the cities were ranked based on 12 factors, you can access them all by visiting the results page.

Other findings in the city banker index include:

• Valletta, Malta has the lowest maximum income tax rate at 35%.
• Dublin and Amsterdam have the highest maximum income tax rate at 52%.

• Brussels has the most affordable high end rent prices at an average monthly cost of £1,283.56
• Paris has the most expensive high end rent prices at an average monthly cost of £2,841.69.
• The most affordable cocktail on average can be found in Valletta (£4.61) and the most expensive in Paris (£10.14).

• Paris had the most Burberry stores (8), followed by Madrid (4) and Milan (3).
• Paris has the most Michelin starred restaurants (82), followed by Brussels (19) and Milan (17).

Startup Cities Ranking: Results

The results reveal that Berlin is the most desirable city for startup employees to relocate to, scoring high for proximity (115 minute flight), English comprehension (56%), and shared rent prices (£393.47). The city ranks second for availability of capital (9.90) and number of coworking spaces (93), second only to Paris. However, the relative affordability of living in Berlin compared to Paris makes the city far more suitable for startup employees.

Copenhagen was found to be the least desirable city for startup employees to relocate to due to the very expensive shared rent (£957.60), low access to capital (3.62), and the high price of a 0.5L beer (£5.11).

*In total, the cities were ranked based on 12 factors, you can access them all by visiting the results page.

Other findings in the best cities for startup employees include:

• Budapest has the lowest income tax rate of 25%.
• Copenhagen has the highest income tax rate at 43.42%.

• Unsurprisingly, Dublin has the highest English comprehension at 100%. This is closely followed by Amsterdam at 90%, making Amsterdam the non-native English speaking city with highest level of English.
• Budapest has the lowest English comprehension at 20%.

• Paris is ranked with the highest access to capital at 10.00.
• Bratislava is ranked as having the lowest access to capital at 0.00.

• Paris has the highest number of co-working spaces (148).
• Brno has the least number of co-working spaces (9).

• Bratislava has the most affordable shared rent (£195.15).
• Copenhagen has the highest shared rent (£957.60).

• Brno has the most affordable monthly travel costs (£17.19).
• Dublin has the most expensive monthly travel costs (£103.07). Both are still more affordable than London (£122.27).

(Source: Movinga)

The five-star Hyatt Regency London - The Churchill is conveniently located in the heart of London’s West End, featuring views over the charming gardens of Portman Square. Just steps away from Hyde Park and London's most famous shopping districts of Oxford Street & Bond Street, the hotel benefits from superb transport links to Kings Cross St Pancras and Heathrow Airport, making it the ideal hotel for both business and leisure travellers.

 Following a multi-million pound renovation back in 2016, this luxury five-star property boasts 440 well-appointed guestrooms and suites, plus 11 distinct meeting spaces, including three 2nd floor spaces with natural daylight and advanced technology. With the help of Churchill’s family, the refurbishment has brought to life the character of the hotel’s namesake, Sir Winston Churchill, drawing upon his sartorial elegance in the design of the new guest rooms, suites and meeting spaces. Original artworks, as well as fine fabrics and iconic designs, namely bespoke herringbone, button detailing and signature furniture pieces reflect the iconic leader’s love of quality craftsmanship and the celebrated British tailoring industry.

Churchill’s relationship with his wife Clementine is reflected in original photographs, art works and love letters throughout the hotel. In The Churchill Bar – designed by internationally acclaimed design firm Spinocchia Freund – elegant bookshelves curated by Daunt Books feature a range of literature reflecting the interests of young Churchill and Clementine. Lawrence Holofcener’s sculpture of Young Winston also sits on the bar’s alfresco terrace, with staff placing a fresh rose in the lapel every morning, just as Clementine did.

Award-winning dining options include thoughtfully sourced, carefully served dishes at The Montagu, snacks and signature cocktails at The Churchill Bar & Terrace or award-winning Italian cuisine at Locanda Locatelli. Hyatt Regency London – The Churchill is proud to offer business and leisure travellers alike, the perfect place in which to work or relax, with all the necessary comforts and amenities to enable a relaxing and enjoyable stay and leave feeling productive and revitalised.
The Montagu – New Cheese & Wine Corner

Inspired by Sir Winston Churchill’s fondness for a daily cheese platter, The Montagu restaurant has launched a new Cheese & Wine Corner complete with tasting bar, expert cheesemonger and sommelier. Diners can enjoy a selection of Alsop & Walkers finest British cheeses on platters tailored to their pallet, paired with first-class English, French and New World wines or Gonzales Byass’ Solera and Pedro Ximénez Sherry. Set back from the bustle of Oxford Street and moments from Hyde Park, The Montagu’s new Cheese & Wine corner offers the perfect place to catch up with friends and colleagues or a treat to finish off dinner at the award-winning The Montagu restaurant.

The first hotel that our Business Voyage section looks at is Rosewood London. Centrally located in the heart of London on High Holborn and housed in the original headquarters of the Pearl Assurance Company, the hotel showcases a sensitive renovation of the 1914 Edwardian, Grade II-listed building. Combining English heritage with contemporary sophistication, the retained Belle Époque architectural features include the original carriageway entrance to the grand courtyard and a spectacular Pavonazzo marble staircase which rises over seven storeys. The hotel has the feel of a stylish London residence and houses 262 guestrooms and 44 suites including the Grand Manor House Wing, an exclusive six-bedroom suite with its very own postcode. Tony Chi and Associates created the interiors of the public areas including 12 event spaces and the Mirror Room, serving elegant, innovative cuisine and afternoon tea. The Martin Brudnizki -designed Holborn Dining Room, with outdoor terrace, offers British classics with a twist whilst Scarfes Bar serves creative cocktails and curries alongside live jazz and cabaret.

Rosewood London opened in October 2013, marking the presence of the Rosewood Hotel & Resorts brand in Europe. Within only a year, Rosewood London became the pioneering five-star luxury hotel in Midtown, winning eight prominent accolades, including “Best New Hotel in the World 2014” by Telegraph’s Ultratravel, “Hotel of the Year London 2014/2015” at the AA Hospitality Awards and “Opening of the Year 2014” at the European Hospitality Awards.

Following a £85 million renovation to sensitively transform the 1914 Edwardian Belle Époque building, the original architectural features were painstakingly restored by an expert team of craftsmen, including the magnificent Grade II-listed street frontage and dome, and the grand Pavonazzo marble staircase which rises up through all seven storeys of the hotel beneath the 166-foot cupola. Guests enter via a grand carriageway which leads to a distinctive courtyard giving a sense of arrival more akin to a private manor house than a hotel.

Situated in the heart of Midtown on High Holborn, Rosewood London offers those coming to the capital for pleasure or business with easy access to both the City as well as attractions such as Covent Garden, the British Museum, the Royal Opera House, West End theatres as well as world-class galleries just a short walk away.

The 262 rooms and 44 suites including nine signature suites, referred to as “houses,” have been crafted from the finest materials and appointed to the highest standard to convey the feel of stylish London residences. The Grand Manor House Wing, one of London’s most exclusive residences, welcomes guests via its own private entrance and is the only suite in the world to possess its own postcode.

Rosewood London is one of London’s most exciting places to drink and dine with an assortment of culinary experiences to suit everyone. The bustling brasserie Holborn Dining Room is handled day-to-day by General Manager Julien Foussadier and serves classic British dishes with a twist throughout the day. Holborn Dining Room is also home to the Gin Bar offering London’s largest collection of Gin. The Gin Bar features over 400 Gins and 27 tonics, including its very own signature tonic, made in-house using a top-secret recipe.

Transformed by award-winning, landscape designer Luciano Giubbilei, The Terrace enables guests to savour unique food and drink offerings reflecting the flavours and ingredients of each British season in a luxurious garden setting. The year-round garden terrace offers guests unique dining and drink experiences inspired by the British seasons. Cosy up in a sumptuous blanket on the heated benches while sipping on hot toddies, hot buttered rum, spiced Somerset cider, mulled wine and British whiskeys, accompanied by cigars to match. Surrounded by lush greenery, The Terrace evokes the design of a quintessential English garden with seasonal flowering plants in textural woven willow baskets highlighting the British craft heritage.

Classically pruned London Plane Trees form the overhead greenery and soft glow lighting offers a subtle backdrop enhancing The Terrace’s privacy and intimacy. Scarfes Bar, named after the renowned British artist and caricaturist Gerald Scarfe whose original artwork adorns the walls, evokes a convivial atmosphere akin to a sophisticated gentleman’s club. Guests will enjoy a lunch menu of spicy curries and kebabs infused with exotic Indian flavours. The creative menu of cocktails, complimentary live jazz seven nights a week and monthly immersive cabaret make Scarfes Bar a must-visit, vibrant entertainment destination.

The stunning Mirror Room, tucked away in the heart of Rosewood London offers innovative and refined seasonal dining by Executive Chef, Amandine Chaignot and a decadent afternoon tea. The tradition of British tea is taken to new heights with the opulent jewel box design and floor to ceiling mirrors.

Rosewood London’s Sense spa is the epitome of style and tranquillity. Available to hotel and non-hotel guests, this urban retreat features bamboo walls, soft lighting and wooden walkways over rippling water and pebble stones. Experience five-star hair treatments from award-winning and celebrity stylist Matthew Curtis within an intimate and boutique style salon at Sense spa.