City of London Corporation elects McGuinness as new policy chairman

The City of London Corporation elected Catherine McGuinness as its new chairman of the Policy and Resources Committee on Thursday.

Previously serving as deputy chairman, McGuinness will now lead on all policy issues affecting the British financial and related professional services sector. Her role will also cover the City Corporation's responsibilities as a local authority, overseeing the City's open spaces, educational commitments and cultural institutions.

The City of London Corporation is the Britain's fourth largest funder of culture, investing over 80 million pounds (103.3 million U.S. dollars) every year in activities of all kinds.

McGuinness said she is committed to building on the Corporation's strong ties with political representatives both in Britain, EU and internationally, to ensure the City remains the leading global financial centre after Brexit.

Prior to becoming policy chairman, she spent several years practicing as a solicitor, as a partner in a City law firm, advising a number of international financial institutions, and as head of legal in an international bank.

"My background in financial law helps me understand the complexities that Brexit poses. Through engagement with firms, trade bodies and government representatives, the City Corporation has led on some important work in this area and in supporting global opportunities and innovation for the future -- work that I'm looking forward to developing further," McGuinness said.

"I am keen to explore how the sector can benefit from leaving the EU, particularly in developing our relationships with new international partners such as China and India," she emphasized.

McGuinness replaces Mark Boleat, who has served his full five-year term. Enditem