Financial services: partnership agreement between Scottish Government and City of London Corporation

Section 3: Ambitions

Securing Investment

Undertake activity which promotes Scotland as an attractive investment destination for London-based international investors.

• Ambition: To convene both institutions with investors throughout 2026, to enable Scotland to set out its strongest possible pitch for investment, including connecting the First Minister with investors directly; to support Scottish projects in need of funding, especially those focused on financial and professional services, fintech, insurance, natural capital, green finance, ; and to work together to amplify the impact of mutually supportive projects, such as the Invest Scotland portal for Scottish Government interests; and the delivery of the Office for Investment’s Financial Services Hub,  where resulting investment could benefit both Scotland and the City.

Building Ladders of Opportunity

Connect the leaders of the future with key investment institutions, ensuring that people from all backgrounds can succeed and grow when working in Financial Services, both within Scotland’s sector and the City of London.

• Ambition: Deploy a programme of engagement to connect leaders of the future with the key investment institutions, to ensure that people from all backgrounds can succeed and grow when working in Financial Services. This includes actions such as supporting events bringing senior leaders in contact with the leaders of the future, developing  informal guidance to amplify efforts already undertaken by firms, government support, and other organisations to increase the amount of staff from diverse backgrounds into the sector; and to forge crucial connections which can maximise the impact of peer mentoring, access to career support and professional development to help those who may face additional barriers progressing in financial services to overcome them.

Green and Sustainable finance

Noting the significant challenges facing green finance globally, including changes to international investment approaches and financing for renewables, we will continue to make the case for green finance and showcase Scotland’s unique expertise and opportunities within the sector globally, navigating those headwinds to deliver green finance.

• Ambition: Noting the challenges facing sustainable investments internationally, we will continue to work to position the UK as a global leader in sustainable finance by showcasing Scotland's strengths in energy transition, green financial services and nature finance and work together to deliver on the Scottish Taskforce for Green and Sustainable Financial Services’ recommendation to discuss the possibilities of locating some of the City’s Green Finance activities within Scotland. Where possible, we will work with institutions such as the Scottish National Investment Bank, the National Wealth Fund, GB Energy and newly established hubs under the UK Industrial Strategy to amplify Scotland’s natural expertise and geographic opportunities in this sector; undertake research to support green financing opportunities and  promote and communicate Scotland and the City's strengths within the UK's broader sustainable finance offer across its messaging (including Scotland and London as "the natural home for green and sustainable finance") and increase its international visibility during key events, both domestically and internationally.

Seizing the Opportunities of FinTech, Data and Al

Support investment opportunities within FinTech, Data and AI, leveraging the City’s investment power with Scotland’s world-leading expertise in these key areas.

• Ambition: Continue collaboration with Fintech Scotland to support the realisation of ambitions within the Fintech Research and Innovation  Roadmap. To support activity to increase the flow of capital into data, AI and FinTech products within Scotland. To support engagement and guidance to help develop commercial pathways to help FinTechs move from start-up to scale-up, including addressing regulatory challenges through joint mechanisms such as the Office for Investment (Financial Services) Hub, the Finacial Regulation Innovation Lab, and promoting Data, AI, and Scottish FinTech opportunities domestically and internationally, where possible.

To commit to joint working, above and beyond these priorities, on areas which may be of mutual benefit to the City of London and the Scottish Government, including general promotion and communications activity or supporting financial inclusion.

Signed in person on 26th January 2026, by:

• The Right Honourable John Swinney MSP; First Minister of Scotland
• Dame Susan Langley DBE, Rt Hon the Lady Mayor of London
• Christopher Hayward, Policy Chairman, City of London Corporation