Finance: going global
Finance is a Sydney success story. The city is Australia’s commercial capital, and one of the best performing financial centres in Asia. Home to 60 of the 64 banks that operate in Australia, as well as the country’s key financial regulatory bodies, it is supported by world best practice financial and legal systems and a transparent regulatory environment. Financial services have made the most significant contribution to growth in NSW, and services exports have increased strongly in the last two years. Australia has the fourth largest pool of investment fund assets in the world, a huge success that has attracted many global funds management companies to Sydney. A major boost to Sydney’s global financial sector will be the city hosting Sibos 2018, the world’s most influential and largest financial services conference. Also, an ambitious infrastructure development is underway to create a world-leading, progressive financial services district at Barangaroo.
Sydney’s finance sector at a glance • One of the best performing financial centres in Asia Pacific • Head office to many of Australia’s leading industry associations, financial institutions and insurers • Head office to the nation’s key financial regulatory bodies, such as the Reserve Bank of Australia • Home to the Australian Securities Exchange • A growing, multi-lingual financial services workforce • 90 per cent of all banks operating in Australia are based in Sydney • Top five banks in China choose Sydney for their Australian headquarters
• Strong, transparent regulatory environment • Hedge fund management is a thriving sector
• Private equity and venture capital are leading industries • Customer and technical support centres in the NSW region.
Barangaroo: a financial district for the future The A$6 billion harbourfront regeneration project at Barangaroo will enhance Sydney’s status as a global financial centre. This progressive financial precinct – the world’s first carbon-neutral, zero waste Central Business District - will uniquely integrate commercial, event spaces, residential, retail, educational, civic, cultural and entertainment. The new hub for the city’s financial services is designed to rival the headquarters of Asia and an estimated 23,000 people are destined to work there.
Sibos 2018: a major win for the city The world’s financial heavyweights will be descending on Sydney in four years’ time for the leading global financial services conference, Sibos 2018, in what is a hugely significant events win for the country’s financial sector. Sibos 2018 will be held at Sydney’s new flagship convention facility, ICC Sydney - part of an extensive regeneration project of Darling Harbour (see page 3). Sven Bossu, Head of Sibos at SWIFT, said: “Business Events Sydney was instrumental in outlining what Sibos 2018 could achieve in Sydney. The team presented a highly co-ordinated city bid involving the government, the financial industry and the local community. We are pleased to bring Sibos back to the harbour city and look forward to working with the local community to deliver another high-quality Sibos event in the region.”
INTELLECTUAL CAPITALS | 2014 | SYDNEY 5
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