19 June 2026
Minister encourages firms to join Financial Services Skills Compact
The Economic Secretary to the Treasury has encouraged firms to sign the upcoming Financial Services Skills Compact, following a meeting with leaders of the Financial Services Skills Commission.
Commission Chair Mark Hoban and Chief Executive Claire Tunley spoke with Rachel Blake MP about the need to prioritise skills in the sector and drive economic growth.
During the conversation, they outlined the need to close skills gaps by focussing on upskilling and reskilling our own people, building new routes into the sector, and promoting a culture of continuous learning.
They also discussed the two landmark projects that the Commission is leading on behalf of HM Treasury; the development of the Skills Compact for Financial Services and research into the impact of AI and other disruptive technologies on the sector’s workforce.
The Commission is calling on firms in the sector to demonstrate their leadership by being amongst the first to sign the Financial Services Skills Compact. UK-regulated firms can contact us on compact@financialservicesskills.org or find out more on our Skills Compact webpage.
Rachel Blake MP, Economic Secretary to the Treasury, said of the meeting:
“It was great to meet with Mark Hoban and Claire Tunley, the Chair and CEO of the Financial Services Skills Commission. Delivering critical skills to the financial services workforce will be fundamental to the UK sector’s competitiveness, innovation and global leadership.
“The 2025 Financial Services Growth and Competitiveness Strategy committed the government to supporting a Financial Services Skills Compact. Since then, the Commission has led this significant and welcome development on behalf of industry.
“The Skills Compact will set out targeted, meaningful and ambitious actions to address skills gaps, including through more strategic investment in critical skills and pathways into financial services firms. I am looking forward to the launch and hope to see many employers sign up.”