Business News Business News Latest news from Greater Birmingham Chambers of Commerce
A force to be reckoned with
Greater Birmingham Chambers of Commerce is joining forces with RationalFX, whose services can potentially save businesses thousands of pounds on international currency transfers. RationalFX is a specialist currency
provider for international money exchange around the world and has been responsible for over $10billion transferred with 100,000 clients. Furthermore, the company has
helped thousands of clients save as much as 10 per cent on money transfers compared to banks or money-sending bureaux. Rational FX was co-founded in
2005 by Paresh Davdra and Rajesh Agrawal, who in June was appointed deputy mayor of London by newly- elected mayor Sadiq Khan. The new partnership between
the Chamber and Rational FX will allow members to utilise the services of dedicated foreign exchange strategist Jaspaul Bains, who will be available to help with all foreign currency requirements. Mr Bains said: “As a locally based
individual, I am delighted that we are partnering with Greater Birmingham Chambers of Commerce. “The partnership enables us to
add real value to businesses operating within the region.” Russell Jeans, director of
membership and business services at the Chamber, said: “We are delighted to be in partnership with RationalFX. “This is part of an increasing
number of new services from the Chamber to reinforce our international trade offering.”
Jaspaul Bains can be contacted on 07738386263 or via email at
jaspaul.bains@
rationalfx.com
Here to stay (from left): Professor Simon Collinson, dean of Birmingham Business School, Nigel Hinshelwood, HSBC’s head of UK, PwC's regional chairman Matthew Hammond and Greater Birmingham Chambers of Commerce chief executive Paul Faulkner, Tony Dennant, Birmingham Metropolitan College
Making a commitment By Dan Harrison
Nigel Hinshelwood, HSBC’s head of UK, has reaffirmed the bank’s commitment to Birmingham in the wake of the Brexit vote. Speaking at a briefing for Greater Birmingham Chambers of Commerce’s quarterly business report, Mr Hinshelwood gave a reassuring message that the EU referendum result would not affect HSBC’s strategy - or its move to a new national headquarters at Arena Central in 2017. He told delegates at the University of Birmingham-
“It will, of course, change the way that our
commercial, retail and private bank customers may need our support, particularly in the next few years. “The UK will continue to be a key part of our global
‘We see Birmingham as the centre of a £110bn regional economy’
sponsored event at Birmingham Metropolitan College: “I get asked all the time does the decision to leave Europe change our strategy within HSBC UK? “The answer to the question is absolutely not - it
does not change our business strategy just because the UK voted to leave Europe.
network. It is also the home to our global headquarters and that will not change - we remain headquartered in London. “But Birmingham will become
the head office of HSBC UK. This city and the wider West Midlands
region brings us closer to our 16 million retail and our one million commercial customers by literally being in the heart of the UK. “We see Birmingham as the centre of a £110bn
regional economy. It has the largest concentration of businesses outside of London, home to 37,000 companies and it really gives us an opportunity to contribute to regional growth.”
Birmingham can weather Brexit
Birmingham has the resilience to cope with any post-Brexit uncertainty, according to two of the city’s leading business figures. Professor Simon Collinson (pictured top right), dean of Birmingham Business School at the University of Birmingham, and PwC’s regional chairman Matthew Hammond (pictured bottom right) addressed delegates at a briefing for Greater Birmingham Chambers of Commerce’s quarterly business report. Professor Collinson said the region’s strong portfolio of
businesses should help it overcome any turbulence in the wake of the EU referendum. He said: “In this uncertainty there are two things regions need.
One is a diverse portfolio of businesses, of different companies, of different sizes, of different sectors.
6 CHAMBERLINK September 2016 “The second thing good regions such as ours need is
something called anchor institutions. “Anchor institutions provide a degree of stability, long-
term routes, commitment to the region and a volume of employment and activity that underpins more turbulent economic activity.” PwC’s regional chairman Matthew Hammond urged local
businesses to hold their nerve during the period of uncertainty. He also said PwC remains committed to driving business
growth through its status as one of the UK’s biggest graduate employers. The Chamber’s quarterly business report is the region’s most comprehensive regular report on business performance.
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