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| News > Launch of the Financial Services Knowledge Transfer Network |

Partnership with the Financial Services Industry

Photo of Chris ClackUCL-CS Financial Computing Director Christopher Clack has set up a new UK Knowledge Transfer Network (KTN) for Financial Services.

The Financial Services KTN is a new programme whose aim is to identify and address the major challenges facing the UK Financial Services industry. This initiative, supported by industry sponsorship, The Technology Strategy Board, ESRC and NERC, brings together the worlds of finance and academia to create practical solutions to financial challenges. UCL is a key partner in the new collaboration, together with other leading universities and industry bodies such as the Association of British Insurers, the Actuarial Profession and the Chartered Insurance Institute.

At an event to mark the launch of the new KTN on 20th October 2009, Sir Win Bischoff (Chairman of Lloyds Banking Group) addressed the most senior and influential figures in financial services, academics and partner organisations. He congratulated Chris Clack for winning the bid to set up this KTN and called for greater and more focussed partnership between and amongst these communities leading to significant progress in supporting and protecting the future prominence of the UK's international financial services industries.

This KTN builds on Clack's previous successes in the area of financial computing, including UCL's MSc in Financial Computing (in partnership with Credit Suisse, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley) and UCL's Virtual Trading Floor - Europe's largest IT educational trading floor (in partnership with Thomson Reuters).

The new KTN has substantive support from across industry and academia and was welcomed by Sir Peter Middleton and Professor David Rhind:

Sir Peter Middleton, Chancellor of the University of Sheffield, President of the BBA, and ex-Group Chairman of Barclays, said: "We need to stimulate debate and facilitate collaborative working with academia, government and business. Practical and inclusive approaches like this will be instrumental in moving this forward."

Professor David Rhind CBE FRS FBA, Chairman, Royal Society Hidden Wealth Report Working Group added: “The recent Royal Society study into the role of science in the services sector showed we can do much better by bringing together those at the cutting edge in universities with senior players in service businesses. In particular, there has been a serious disconnect between these two groups in parts of the financial services - to our great detriment. So I very warmly welcome the initiative of the Technology Strategy Board and its partners in creating a Financial Services Sector Knowledge Transfer network.

This page last modified: 22 October, 2009 by Graham Knight

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