Hello and welcome to the next episode in our series of Beyond Brexit Podcasts.

Today we're discussing the future for financial services in a post-Brexit world.

I'm Gaynor Bagley, PWC's Head of Corporate Purpose, and I also chair our EU Steering Committee.

I'm joined by Andrew Kale, Head of financial services here at PWC,

and Mark Hoban, board member at the City UK.

Mark and Andrew, City UK and PWC launched a really interesting report over the summer,

setting out a new vision for UK's financial services.

Actually, with my role, it seemed to be talking about the purpose of the financial services sector.

Are you able just to give me an overview of the kind of some of the key findings?

So I think at the heart of it was a, how does the sector respond to the challenges that sees around it?

Not just Brexit, although Brexit is front of mind for many people, but the emerging digitisation of financial services, the growing threat from offshore

financial centres in Singapore, Hong Kong, new financial centres we don't know about yet in Africa

or Middle East. But also what was it, I think, driving it very strongly was the sense

that the sector had lost the trust of people and the work that PWC did with CISN's

jury brought that home. And that to recreate itself, to transform itself, the sector needed

to rebuild those levels of trust and to demonstrate it was there

to serve its customers, whether that's you and me going into our local High Street

branch, bank branch or insurer, or where it's a great multinational seeking to trade across

the world. So trying to recreate that sense of trust and that sense of identity, why is

the sector here, what it's for,

and whose purpose is there to serve

is really important in driving the report.

...