Aberdeen’s stock market achievement takes centre stage

LUMSDEN- Douglas

Cllr Douglas Lumsden

This month we will welcome delegates to the city for an event which will put Aberdeen’s success in financial innovation firmly in the spotlight.

By hosting the Bond Investments conference on 27 February we will be able to share the knowledge that has set our city apart.

When Aberdeen City Council became the first local authority in Scotland to issue a bond on the London Stock Exchange a marker was set – it demonstrated that as an organisation we are willing and able to think differently.

That applies not only in finance, but across the whole organisation and we will continue to embrace that approach as we build the council of the future.

The £370million bond issue late in 2016 was a huge success, with the fact it was oversubscribed showing the confidence from investors in the Council and the city. Before going to market we went through the rigorous process of obtaining a credit rating, again breaking new ground.

The objective was to secure the best value capital funding solution and as such protect the public pound, something we successfully delivered. The tag line for the conference is Transforming Delivery of City Growth and the bond issue has underpinned our ambitious capital programme, driving economic development for the city and wider region.

The interest in the process has been great, from fellow councils through to other public bodies and beyond into the private sector. The conference is designed to give insight into the process and provide a platform for what I’m sure will be lively and informative conversation.

I’m looking forward to joining fellow speakers on a programme which includes contributions from our Chief Executive Angela Scott, Moody’s Vice-President Zoe Jankel and RBS Chief Economist Stephen Boyle as well as a host of other prominent figures from sectors including finance and law.

Whilst we prepare to welcome delegates from far and near, there is an opportunity for anyone with an interest to get involved in a varied schedule which will include presentations and interactive panel discussions.

By partnering with the Improvement Service, an organisation working with councils throughout Scotland, we have been able to attract an excellent line-up and to open the conference to all without charge. Tickets are available online and we look forward to what promises to be a fantastic event.

Cllr Douglas Lumsden