The University of Glamorgan’s new Centre for Financial and Professional Services will offer opportunities for up-skilling the growing sector’s workforce, further strengthening Wales an attractive option for inward investment.
The Welsh Government has been working closely with the University for more than a year to develop new courses and training that will provide the right skills for those entering the workforce. The aim is to meet the demand for skills in sector.
Facilities at the new centre include a mock courtroom with state-of-the-art technology where students can hone their advocacy skills in a realistic environment in a courtroom setting.
There will be an Equity Trading Room with screens featuring breaking news, stock market data and personal finance advice to brokers and dealers the world over. The Trading Room will allow students to take part in simulated share dealing in a real-time environment.
The First Minister will launch the centre at an event for the business community in Cardiff Castle. He said:
"This exciting new centre will provide a major boost to the financial and professional services sector in Wales, a sector that we want to see grow and thrive.
"Wales needs to be attractive to businesses and organisations looking to base their operations here and the opportunities provided by the University of Glamorgan’s new Centre will ensure that we can offer a highly skilled workforce.
"Global Finance brands like Lloyds Banking Group, Legal & General, Admiral, Zurich, HSBC, MoneySupermarket.com, Tesco Finance and Go Compare all have major Head Office support functions here in Wales. They are here because they have found a pool of highly skilled and professionally qualified people. Wales already employs 124,000 skilled professionals in this sector and the aim is to grow this to 200,000 by 2021."
Julie Lydon, Vice-Chancellor of the University said:
"Glamorgan’s pedigree as a university founded by business for business makes it unique in Wales, and our major presence in the capital city makes us a natural partner for both the business community and the Welsh Government.
"The launch of the centre for Financial and Professional Services responds to the demand from these key growth industries in the legal, financial and professional services sector. We are providing businesses and workers with a flexible and innovative way of increasing their overall skill base and individual employability. This is good news both for the companies’ bottom line and the Welsh economy as a whole."