South Wales Financial Centre of Excellence

2019

May 21

Withdrawn gov.uk/ukti 1

2019

May Welcome to21 South Wales

Welcome to South Wales – this region, famed for its natural beauty, is a major centre for financial services with blue chip companies running substantial operational functions here, taking advantageWithdrawn of the area’s welcoming environment and attractive lifestyle. 2 South Wales Financial Centre of Excellence

Close proximity to London, low overheads and a strong supply of highly skilled staff makes it a thriving financial and business services region. 21,000 The South Wales region has a population of There are 95,600 jobs in the financial, business 1.8 million within an overall area of and professional services sector2019 in the South Wales region, with financial and insurance approximately 1,303 sq. miles and consists companies alone accounting for 21,000. * of 12 counties; Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Neath Port Talbot, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taff, Swansea, Torfaen and Vale of Glamorgan and includes the cities of May Cardiff, Newport and Swansea. With its blend of vibrant cities, stunning coastlines 31 and diverse countryside, South Wales offers 31 FTSE 100 companies have outstanding quality of life, a growing 21headquarters, major corporate economy and excellent infrastructure. centres or other associated operational functions in the South The region has a world-class talent pool Wales area.* and competitively priced commercial real estate, making it the ideal location to establish, nurture and grow your business. It also benefits from exceptional access to London, the rest of the UK and beyond. £2.2bn

South Wales is well positioned to take advantage of the movement of jobs, from London or overseas, as it offers the Financial and insurance assurance of a politically stable UK location activities contributed £2.2 at a very competitive cost. In recent years, billion to the UK economy in Withdrawn terms of GVA. ** many global companies such as Deloitte, Atradius and GM Financial UK, have chosen to relocate their operations here.

* B usiness Register Employment Survey, Office for National Statistics, 2013 ** ONS, Regional Gross Value Added, December 2014 gov.uk/ukti 3

Financial hub

South Wales is a major hub for financial and business services in the UK. There are up to 1 million sq. ft. of new Grade A offices currently under 2019 construction in Cardiff alone to support the industry. South Wales offers a talented labour pool supplemented by specialised training within Welsh academic institutions. May

31 FTSE 100 companies have 21headquarters, major corporate centres or other associated operational functions in the South Wales area.* This creates opportunities for other financial and business services enterprises considering relocation, as there is an existing pool of qualified labour as well as high numbers of graduates and excellent commuter links. Withdrawn

* B usiness Register Employment Survey, Office for National Statistics, 2013 4 South Wales Financial Centre of Excellence

Major employers Key locations

75% of all employment in the financial and South Wales has a number of locations business services sector in Wales is hosting clusters of financial and business conducted in the South Wales region. ** services companies. There is a population of over 1.8 million people within the region, Industry strengths with a further 1.8 million living in the bordering counties, offering a continuous The concentration of the financial and flow of new talent for companies in the business services sector in South Wales region. means that there are substantial operations 2019 being conducted here across a multitude of areas, with particular strengths in insurance, knowledge process servicing and legal 3.6m services. There is access to a catchment of 3.6 million people in the region andMay surrounding counties Cardiff Airport is the national airport for Wales and gateway to the country

Over Over21 Over 1 million 17 50 6 900

Passengers Airline operators Direct routes Routes to major hub Routes available airports when taking connecting routes

Torfaen Swansea Population Population 91,600 241,300 Caerphilly Newport Population Population 179,900 146,800 WithdrawnBridgend Population 141,200 Cardiff Population 354,300

* ONS 2014 ** Welsh Government Statistics, Employee Jobs by Priority Sector, 2013 gov.uk/ukti 5

Cardiff CASE STUDY - Cardiff Cardiff is the capital city of Wales. The city is the focal point for both national and local government, business and commerce for Wales, and many renowned names in the financial and business services sector.

Financial, insurance and business service activities generated over 40,000 jobs for Cardiff in 2013.* 2019 It’s plain sailing in South Wales Cardiff International Airport is within 30 minutes’ drive of the city centre, offering Admiral Group is a FTSE 100 company domestic and international flights, headquartered in Cardiff. The company is including regular flights to and from worth over £4 billion and employs over London. Other destinations served directly 5,000 people in South Wales to conduct and regularly from Cardiff include Dublin, the insuranceMay giant’s entire operations – from sales to marketing to HR. Admiral has Amsterdam, Munich and Paris. grown organically from 60 to 5,000 staff The city houses an internet exchange (one over the last twenty years and has recruited locally to fill those posts. Admiral of only four UK cities outside of London to 21 has won a number of awards, such as, in have one), which means that businesses 2014, 2nd place in the Sunday Times 100 located here can take advantage of lower Best Companies to Work. costs and increased data resilience. Admiral has big plans for the future, as Companies include: shown by their 2014 move to a purpose- – AXA – Legal & General built, 220,000 sq. ft. Grade A office building – Admiral Group – Marsh Insurance in Central Cardiff that will house over – Atradius – Princip ality 2,000 of their employees. – Barclays Building Society HR Director Ceri Assiratti says: “Cardiff won – British Gas – RBS our hearts. People don’t always recognise – FirstSource – Willis Insurance Wales as a great place to come to until they – Lloyds Bank get here, and being only two hours from London, Cardiff offers us the benefit of Withdrawn being close to the UK’s financial centre but without the added cost.”

admiralgroup.co.uk

* W elsh Government Statistics, Employee Jobs by Priority Sector, 2013. 6 South Wales Financial Centre of Excellence

CASE STUDY - Cardiff Newport

World class environment Newport is the gateway to Wales. In recent years, Newport has become internationally Atradius provides trade credit insurance, recognised as a host city for big events, surety and collections services worldwide having accommodated the NATO summit in through its strategic presence in 50 2014 and the Ryder Cup in 2010. countries. Atradius has access to credit information on 200 million companies Newport is in the midst of a £2 billion worldwide with a turnover of €1.6 billion. regeneration plan labelled ‘The 2020 Atradius was one of the first companies to Masterplan’ which will include2019 a number of recognise the potential of Cardiff as a centre regeneration projects including 390,000 of excellence for financial, professional and sq. ft. (36,230 sq. metres) of commercial business services, where they now employ property and leisure space at Friars Walk in around 500 people. The company values the the city centre. high quality lifestyle and well educated and adaptable workforce, amongst the strengths The Celtic MayManor Resort in Newport has of the Welsh capital. been described as being one of Europe’s finest destinations, and has been voted HR Manager Anne Middleton says: “As a M&IT ‘Best UK Hotel’ for the last four years world-class company, we wanted a first-class site. We found it in Cardiff Bay – one of 21and C&IT ‘Top UK Conference Hotel’ for five Europe’s most innovative and original consecutive years. waterfront developments. The Welsh capital and the surrounding areas offer a diverse, The city is also home to the National high quality lifestyle and a well-educated, Software Academy, a new partnership adaptable workforce capable of responding between academia, Welsh Government and to the challenges of continuous change.” industry leaders to address the shortfall of qualified, industry-ready software Atradius forms part of Grupo Catalana engineers. They combine teaching and Occidente (GCO.MC), one of the leading training in a bespoke commercial/IT insurers in Spain and worldwide in credit environment, to produce sought after insurance. graduates with industrial experience who atradius.co.uk will be recognised as leaders in their field. Key UK government offices, such as Withdrawn Companies House, the Intellectual Property Office and the Office for National Statistics, who together employ over 2,000 people, are located here. The Intellectual Property Office and the Office for National Statistics relocated to Newport from London to take gov.uk/ukti 7

CASE STUDY - Newport advantage of the city’s local talent pool and No need to compare low operating costs. Apart from the financial and business services sector, the Go Compare is a British financial services other large industry sectors here are comparison website. It provides advanced manufacturing and ICT. All of comparison details for a multitude of these provide services for business and financial products as well as energy and that means the local area provides a range household products. The company is now owned by Esure and was the first of relevant skills. comparison site to focus on features2019 of Companies include: insurance products rather than just listing prices. This led to the company being – GoCompare invited to become a member of the British – Admiral Insurance Insurance Brokers Association (BIBA). In – Lloyds Bank 2013, Gocompare.com reported a turnover – Steria of £110 million, up from £105 million in – Henry Howard Finance 2012, withMay profits before tax rising to £25 – Target Group million, from £24 million.

Founder Hayley Parsons says: “I never 21even considered anywhere else. One of the things I love about Wales is that people here really like to see you doing well. We always look for people who have something about them; people who have that spark and enjoy coming to work every day. When it comes to finding people like that, there’s no comparison with Wales”.

gocompare.com

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CASE STUDY - Newport

2019

Aiming high Torfaen

With over 36 years’ experience, Target Torfaen is a county within close proximity Group is one of the longest-standing of Cardiff and Newport in the west and service and software providers to the Bristol in the east. Financial Services industry. In order to May deliver to over 50 clients from across the Historically the area had a big UK, Australia and New Zealand, Target manufacturing economy, but is now Group operates from an area with the right reinventing itself as a key hub for skills, the right infrastructure, and at the 21outsourcing services, particularly for the right cost. Its two core offices in Cardiff and financial services sector. Newport are the cornerstone from which the company serves its prestigious client Companies include: base that includes Morgan Stanley, Credit – Proxima Suisse and DVLA. – Genfour Group Sales Director, James Snow says: – Lloyd and Barnes “We win contracts with clients who are – Xchanging based in locations where operating costs are much higher. Importantly, thanks to the people and infrastructure that we have here, we are able to provide high-quality customer management and a high level of security around IT and payment processing servicesWithdrawn for our clients.” targetgroup.com gov.uk/ukti 9

Swansea CASE STUDY - Swansea Swansea is a coastal city and Wales’ second largest city. Situated on the sandy South Wales coast, Swansea is renowned for its breath-taking scenery and exceptional lifestyle. It is one of only two cities in the UK where growing companies can benefit from ‘Tier A’ (the highest rate) Trading up European Funding. Rapid online connections to global2019 trading The city has undergone a transformation floors and the availability of talented as it looks to build on its status as the graduates to conduct high-powered market regional centre for South-West Wales. The transactions have enabled fast-growing redeveloped bus and train stations, the futures and derivatives firm, OSTC, to create High Street regeneration and the a thriving exchange on Swansea’s waterfront. completion of the Boulevard Project to link The pioneeringMay centre was established by a the city centre with the city’s waterfront Cardiff University graduate who grabbed the provides Swansea with a modern chance to return to Wales when OSTC was infrastructure from which to grow. seeking opportunities to set up operations outside the traditional financial hub in Companies include: 21London. OSTC now employs 60 graduates in – OSTC Swansea, mainly from Welsh universities. – HSBC Under a carefully managed expansion – Admiral Group programme, that is set to rise to 200 over the – ERS next five years, and most, if not all, will be graduate-level posts. Among the initiatives to strengthen links between student talent and the business community, the company worked with the Welsh Government to create a mock trading floor at several Welsh universities and also supports an ‘Investment Society’ for students operating on the campus. Managing Director, Michael Shirley says: “It is Withdrawn working excellently from Swansea with good universities close by. We are seeing more and more applications for jobs from entrepreneurial and ambitious people and are very happy with the quality of the applicants.” ostc.com 10 South Wales Financial Centre of Excellence

CASE STUDY - Caerphilly & Rhondda Cynon Taf

Shaping business strategy

Creditsafe is a multinational provider of online company credit information. The company set up its first UK operation in London in 2000, but found that high operating costs and a lack of availability of quality staff were holding it back. After looking at several locations in the UK and Europe, Creditsafe turned to Wales.2019 The Caerphilly & Rhondda Cynon Taf move proved to be extraordinarily successful, as company turnover increased Caerphilly and Rhondda Cynon Taf are by 450% within the first 12 months of counties bordering Cardiff with a combined setting up in Wales. population of over 400,000 people. Key Creditsafe sees the move to Wales as the towns include Caerphilly, Pontypridd and best strategicMay decision the company has Llantrisant. made, transforming how it does business. Companies have taken advantage of the Chief Executive Cato Syversen says: “Wales provided everything we needed. Relocating excellent transport links to the nearby 21to Wales from Norway was so much easier cities of Cardiff and Newport to relocate than I had anticipated as my family and I had their key support services here. help with things like finding a new home and schooling for our children. I feel that Wales Companies include: wants Creditsafe to succeed as much as we – GM Financial UK do. I have often said that my ambition is to – Arthur J Gallagher build a workplace where people want to – Creditsafe come to work on a Monday morning, not – DAS Legal Insurance because they need to, but because they want to. Relocating to Wales has been the best strategic move Creditsafe has ever made. It saved Creditsafe and it framed how we do our business.” Withdrawn creditsafeuk.com gov.uk/ukti 11

CASE STUDY - Caerphilly & Rhondda Cynon Taf

Road to success From there, it runs an extensive operation providing finance to car buyers and GM Financial UK is the British subsidiary of commercial funding for mainly GM/Vauxhall GM Financial Inc., the global automotive retailers. financial services company of General Motors. With 95 years of experience, the company As a key part of the expanding financial has an unrivalled reputation in offering business community in Wales, GM Financial finance solutions for the automotive industry UK has established excellent relationships in the UK. with higher education institutions,2019 including the University of South Wales, Cardiff As a people-focused business, the main Business School and local colleges. GM priority for GM Financial UK when seeking a Financial UK has also found Wales to be an base was the ability to recruit well-qualified, environment in which to engender staff skilled and highly-motivated staff. What Wales loyalty and high retention rates. offered on all counts convinced the firm that the journey down the M4 motorway was the Managing DirectorMay Ed Paulat says: “We have a right one to take. Today, GM Financial UK keen interest in helping retain and develop employs more than 300 people at its flagship skilled talent in the region. Our newly-created offices on Nantgarw Business Park, only a few Vauxhall Finance Award of Excellence for minutes’ drive from the M4 at Cardiff. 21Cardiff Business School graduates is one example of the perfect collaboration between business and education to further develop the financial sector in Wales. Being based in Wales has been good for GM Financial UK and we anticipate our growth and success continuing in the future. Based on our experience, we would not hesitate to recommend this area to other businesses”.

gmfinancial.com

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South Wales - Key Employers

A465 A465 2019 M4 14 Swansea A470 Cwmbran 15 1 20 24 22 18 27 M4 36 29 3517 CwmbranM4 M4 Swansea 2 Caerphilly 13 27 Newport22 18 1 11 33 31 9 1725 38 M4 M4 12 Swansea May25 16 Caerphilly Newport M4 5 26 Bay 104 19 21 11 Bridgend 2, 16, 28 3414 6 CARDIFF21 8 15 21, 23 Bridgend 28 1 6 23 7 2620 9 5 3 32 24 CARDIFF 2130 8 13 3, 397, 12101 4 37 19

1. A dmiral Group 9. Cr editsafe 17. Llo yds Bank 24. Steria 2 . A X A 10. Fir st Source 18. Lloyd & Barnes 25. Target Group 3. A tradius 11. GM Financial 19. Marsh Insurance 26. Willis Insurance 4. WithdrawnA viva 12. Go Compare 2 0 . O S T C 27. Xchanging 5. B arclays 13. Henry Howard Finance 21. Principality Building 28. Zurich Financial 6. B uy as you view 14. ERS Society 7. British Gas 15. HSBC 22. Proxima 8. C GI 16. Legal & General 23. RBS gov.uk/ukti 13

2019

May Recruitment pool21

South Wales’ growing reputation for Wales’ renowned higher education financial and business services is institutions also mean that there is a reinforced by its highly skilled and cost continuous pipeline of talent available to effective workforce. businesses. There are five universities and eight colleges in the South Wales region South Wales’ population of 1.8 million, 34% with over 200,000 students; 100,000 of of whom are educated to degree level or those students are in higher education. higher, are arguably some of the most hardworking and loyal in the UK as evidenced by the wide array of employers located here. In fact, research conducted by Income Data Services in 2013 saw Wales ratedWithdrawn as the best region in the UK for workforce loyalty, with staff turnover averaging c5% compared to the next best at c12%. 14 South Wales Financial Centre of Excellence

Cardiff University Medical Underwriting Academy

Cardiff University is a Russell Group In 2002, Legal & General identified a need university with nearly 30,000 students. It to up-skill experienced underwriters in the is ranked 5th amongst UK universities in medical underwriting field, where the the 2014 Research Excellence Framework required specialist understanding is for quality, 2nd for impact and has a global detailed and challenging. The result was a reputation as well as two Nobel Laureates university credit-bearing course, delivered on its staff. by Cardiff University in a flexible way and using varied modes of provision. Following The university produces close to 9,000 the success of this course, others2019 followed graduates and postgraduates annually year on year; each being re-designed or from over 120 different countries. It enhanced to accommodate the changing collaborates with the best local and requirements of Legal & General. international businesses and offers specialist masters degrees ranging from The courses have developed into Specialist finance to a renowned executive MBA. The Medical ModulesMay attended by Legal & university’s graduates have gone on to be General staff from offices around the UK. employed at some of the most prolific A blended learning approach is used to companies in the world including Citibank; ensure that learners can undertake the KPMG; RSA Insurance Group; and Clifford 21learning at their own pace before Chance. attending the face-to-face course days held at the university. The modules are adult- cardiff.ac.uk learning focused and use practical, hands on workshops and real-life examples, as well as industry case studies to aid discussion and understanding of medical conditions.

The partnership has won awards including a National Training Award (Regional Prize) in 2004 & 2010 and has been praised as demonstrating good practices for collaborative working between an HEI and a business. In addition the academy received LegalWithdrawn & General’s medical interest from the wider insurance sector. underwriting team in Cardiff is now the largest in Europe, and is continuing to expand and develop. gov.uk/ukti 15

assessment methods, vulnerability management, IDS data integration and secure wireless mobile computing. The group maintains two specialised research labs, the Network Security Research Lab (NSRL) and the Computer Forensics Research Lab (CFRL). The CRFL is a restricted access lab used for analysing computer files in a manner that makes the information gained presentable as evidence in a court. Methods2019 and tools are University of South Wales developed that, in an evidentially sound manner, extract information from the With over 30,000 students, the University information system to address problems of South Wales is the largest university in currently being encountered in the forensic Wales and one of the largest in the UK. process. With its roots as a technical college May developing engineering students for heavy The Centre for Information Operations at industry, the university has always focused the University of South Wales leads in the on engaging with business and producing areas of information security, digital highly trained graduates that suit the 21forensics and cyber threat assessment. It needs of industry. houses training facilities alongside specialist restricted access research labs, The University’s accounting courses are where state-of-the-art equipment is used highly respected, gaining Gold and to support diverse R&D projects. Platinum ACCA accolades. The University has also been named Public Sector Financial Services firms dealing with the Accountancy College of the Year by PQ modern threats of cyber invasion can rest Magazine. assured that there is a pipeline of talent to tackle cyber threats emanating from these The Information Security Research Group bodies. (ISRG) at the University of South Wales includes specialists in network security, Southwales.ac.uk forensics and threat. The group offers commercial services to organisations such as Withdrawnfinancial institutions, the Police and other public and private entities. They focus on early warning systems that detect and respond to a variety of cyber-based attacks, with teams developing new technologies such as secure XML, threat 16 South Wales Financial Centre of Excellence 16

CASE STUDY

Welsh Financial Services Graduate Programme

This innovative graduate initiative, unique to The graduate scheme received praise from Wales, is a full-time programme partly the Lord Mayor of the City of London, who funded by the European Union, designed met scheme representatives at Atradius’ and delivered by leading financial services UK headquarters in Cardiff during a visit to employers who are seeking to develop the Wales in April 2014. next generation of talented financial services Anne Middleton, HR Manager2019 at Atradius, professionals for the industry in Wales. said: “Our objective was to create a strong This highly regarded programme provides scheme to help retain and develop skilled structured training in a wide range of graduates in Wales. We are immensely professional roles, senior mentoring and a proud of what we’ve achieved. As Masters qualification in Financial Services employers, we’ve created a model which Management delivered by the University of works. It represents a perfect collaboration between Maybusiness and education, which South Wales. Successful applicants to the programme undergo an intensive 22 months starts to develop a significant talent pool in of work, training and academic study, all Wales”. whilst experiencing a wide range of job roles such as risk/underwriting, commercial 21 account management, product development, business analysis, IT, financial control, finance, credit risk, research, HR and marketing. The scheme helps to foster home grown talent and creates future leaders and professionals for the financial services industry which has a strong and growing presence in Wales. Participating employers include Julian Hodge Bank, Admiral, Atradius, GM Financial UK, Finance Wales, Optimum Credit, Grant WithdrawnThornton and Composite Legal Expenses. gov.uk/ukti 17

Cardiff and Vale College

Cardiff and Vale College is a highly The College’s clients benefit from access to ambitious Further Education College with a range of workforce development over 20,000 students across the Cardiff solutions, tailored to meet pre-agreed capital region. Their new state of the art requirements. It offers both accredited and 4,000 student campus, in the heart of the non-accredited bespoke training activities, Central Cardiff Enterprise Zone, provides placing the client at the centre of the first-class learning facilities and will be relationship, whilst always focussing upon home to a dedicated Financial and return on investment. Professional Services hub - providing a 2019 Cardiff and Vale College joined the Gazelle pipeline of skilled and talented employees. Colleges Group in 2012, and is the only The college has a strong voice in the Welsh college in the group. Created in 2011, sector; it is the lead training provider and the aim of the group is to work towards the partner in Wales for the National Skills transformation of further education Academy for Financial Services, and has through enterpriseMay and entrepreneurship. recently secured a contract to deliver the Gazelle provides an opportunity to engage Deloitte apprenticeship programme in with entrepreneurs and innovators and to Cardiff. bring that experience into the heart of 21further education. Employer-led by design, engagement is a key activity of the college and it works hard The Group is committed to transforming to understand the needs of industry, which curricula to encourage an entrepreneurial informs the development of an innovative mind-set. The members want to foster a curriculum. new generation of entrepreneurs who can bring innovation to existing businesses and who can create their own employment with confidence and ambition.

cavc.ac.uk Withdrawn 20,000+ Cardiff and Vale College is a highly ambitious Further Education College with over 20,000 students across the Cardiff capital region 18 South Wales Financial Centre of Excellence

2019

May 21 Digital Connectivity

Wales is a digital nation where companies Whether you are a multinational can flourish and do business with anyone, corporation looking to relocate your anytime, anywhere around the globe. headquarters or a small business looking Underpinning this is an expanding world to benefit from superior connectivity, class digital infrastructure that is globally Wales has the digital infrastructure to competitive, flexible and forward-looking. support your ambitions. Withdrawn gov.uk/ukti 19

Wales supports a competitive and diverse Wales has an expanding, diverse and fibre market, offering connectivity at all resilient data centre offering. A world-class speeds and quality to meet all business carrier neutral Tier 3 data centre and a requirements. strong SME data centre provider is within 10 miles of Cardiff and a new carrier The Welsh Government works with neutral centre is planned within Cardiff partners to stimulate competition and itself. Further, interest is also growing in a diversity of fixed telecoms infrastructure carrier neutral centre in the Swansea Bay supply in South Wales. An open access City Region, providing coverage right duct network is in development for any across South Wales. telco to provide fibre services across the 2019 Central Cardiff Enterprise Zone. Telco Cardiff hosts one of the most successful providers will be offered exclusive regional internet exchanges in the UK. commercial rights to operate cable IXCardiff opened its doors to business in networks using the verges of the March 2015 and this exchange is increasing motorway/high speed trunk road network regional resilience and reducing data in Wales. transit costsMay for members. It is developing and promoting international connectivity The Welsh Government is working with and is offering the local marketplace a local international connectivity providers to service. deliver direct and diverse international 21 options from South Wales and Cardiff. It More widely, South Wales has an will soon be the only UK city offering direct expanding creative and media sector and diverse transatlantic connectivity routes IXCardiff is introducing new peering bypassing London. This is why Wales is options for accessing this growing market. destined to be the preferred disaster recovery/backup location for businesses dependent on international connectivity.

Withdrawn 20 South Wales Financial Centre of Excellence

2019

May 21

Withdrawn

Nick Razey, CEO of Next Generation Data, on site gov.uk/ukti 21

2019

May Outstanding lifestyle21

From wildlife to social life, South Wales enjoys a great quality of life and the capital Cardiff has been voted the from arts to sports, from UK’s best city to live in a number of surveys landscape to seascape, and reports.* Wales delivers what you want. Number Withdrawn UK’s best city1

* Mone ySuperMarket quality of living report, September 2014; European Commission Quality of life in cities report, July 2014; Legal and General Best City to be Young report, October 2013 22 South Wales Financial Centre of Excellence

Housing

Whether renting or buying, South Wales has some of the most competitively priced housing in the UK. One can find all types of properties from apartments with concierge services to manor houses with stables, all within a short commute of the cities of Cardiff, Swansea and Newport. Outdoor activities 2019 Whether your pleasure is jumping on a mountain bike, fishing, enjoying the spectacular coast and mountains on foot, paddle, surf or sailing or indeed partaking in adrenaline bursting high-octane coastal sports, WalesMay has the answer. The National Cycle Network stretches for over 1000 miles and enjoys 750 miles of beautiful coastline with more high quality beaches - Blue21 Flag (39) and Green Coast Award (44) Landscape - than anywhere else in the UK (2009). Wales has some of the most incredible With over 500 tranquil lakes and landscapes in the world, from mountains to reservoirs, covering a total of coast, ancient woodlands to lakes and approximately 50 square miles, there are rivers and it has over 4,000 sq. km of numerous opportunities to sail, fish and National Park. These richly varied relax, and there are more castles per landscapes make Wales a superb square mile to explore in Wales than any destination for outdoor activities. other country in the world. The Wales Coastal Path runs along the entire coast of Wales extending to 870 miles (1,400 km). Add in the 180 mile (285 km) Offa’s Dyke pathway, which trails the land border with England, and you can Withdrawn complete the circuit of the entire country. gov.uk/ukti 23

The Principality Stadium (formerly the Millennium Stadium) is the national stadium of Wales, located in the capital city, Cardiff. It is home to the Welsh national rugby union team. Avid football fans can enjoy Premiership matches at The Liberty Stadium, home of Swansea FC. 2019 Sport

Sport is a major interest for people in Wales, be it as a participant or as a spectator, with rugby being the most popular followed closely by football. Wales May has been the host to many international sporting events including the World Rally Cardiff City Stadium is home to Cardiff Championships, the Ashes and the 21City FC who are currently competing in Olympics. The geography and natural the Championship, the second tier of the terrain of Wales means that watersports English football league system. The and extreme sports are growing in stadium is also the chosen home of the popularity. Wales national football team. The Wales National Velodrome is located in the Newport International Sports Village. The Velodrome has a covered 250-metre Siberian pine track, a function room, fitness suite, a drug-testing room, a multi-purpose indoor sports arena and seating for 500 spectators. It has been a key preparation venue for the gold medal winning GB cycling team at the Olympic Withdrawn Games, helping stars like Victoria Pendleton, Laura Trott, Sir Chris Hoy, and Cardiff hosted key fixtures of the IRB Sir Bradley Wiggins to gold. Rugby World Cup in 2015 and will host the UK leg of the Volvo Ocean Race in 2017 as well as the UEFA Champions League Final in 2017. 24 South Wales Financial Centre of Excellence

Culture Cardiff is a high-growth city which already benefits from the qualities that define Famed for its love of the written (and sung) competitive locations – from commerciality, word, Wales plays host to the Hay Festival, connectivity and environment, to culture, described by Bill Clinton as “the Woodstock character, quality of life and opportunity. of the mind,” which was founded to celebrate great writing and the power of Heritage, green spaces and a buzzing great ideas to transform our way of cultural scene. Cardiff offers all three – and thinking. Wales also hosts some of much more besides. Historic, but packed Europe’s most respected music and arts with modern attractions, this is a city on a festivals with the Artes Mundi, Green Man high. Cardiff’s historic castle2019 has timeless and Brecon Jazz being particularly well appeal and its contemporary landmarks, known. such as the Principality Stadium, are world-class. Cardiff has a number of national facilities, including the Welsh National Opera (based at Cardiff’s award- winning WalesMay Principality Stadium) and the BBC National Orchestra of Wales. Cardiff’s National Museum is home to the largest collection of Impressionist and post- 21Impressionist paintings outside Paris. Entry to the collection, which includes Renoir’s ‘La Parisienne’, Rodin’s ‘The Kiss’, Van Gogh’s ‘Rain-Auvers’ and Monet’s Cardiff, Capital of Wales ‘Waterlilies’, is free for everyone.

Cardiff is in every sense a capital city. South Wales is also a very active media Young, emerging, energetic and hub, and home to the BBC studios that film transformational, it has an enviable Dr Who and Sherlock, and the reputation for its business community, headquarters of Tinopolis, one of the international sports venues, cutting-edge largest independent television suppliers in media and a lifestyle that ranks among the the UK and a producer of programmes for best in Europe. Less than two hours from the top networks in the USA. The region is London, with excellent transport and also a favourite of many Hollywood super-fastWithdrawn broadband, Cardiff is one of productions including Captain America: Europe’s best-connected and most The First Avenger, the Harry Potter competitive destinations. franchise and Robin Hood. gov.uk/ukti 25

Food and Drink The Royal Welsh Show takes place each July and is one of the best attended South Wales is a truly cosmopolitan area agricultural events of its kind, with a food and as a result offers something to suit hall that offers an array of produce everyone’s taste and budget. Nearly every including meats, dairy products and many weekend, there’s a food festival famous Welsh cheeses. You can also enjoy somewhere in Wales, both small and large. fruits, preserves, honey and many more Wales’ best-known festival is the products of the land and sea. Abergavenny Food Festival, which is renowned for its friendly, lively History atmosphere, its wacky events, tents, 2019 venues and on-trend programme of the Wales has a rich culture and heritage. great and the good. The Romans came to Wales for its gold, the Normans built castles and the Tudor dynasty was founded here. There are Mayover 500 castles, from Roman times to millionaires’ follies of the 19th century, making Wales the castle capital of 21Europe. Whichever part of Wales you head for, you’ll find yourself within easy distance of some of the world’s finest castles and awe-inspiring landmarks. South Wales also “Simply put, Abergavenny Food Festival is has a number of historic sites, from the to food and drink, what Edinburgh Fringe UK’s best preserved Roman amphitheatre is to comedy and music”.* in Caerleon to the massive 18th century The Cardiff International Food & Drink ironworks in Blaenavon (a UNESCO World Festival attracts food producers and Heritage site). suppliers from Cardiff’s twin towns of Nantes, Stuttgart and Hordland, alongside Welsh produce. There are many food festivals in Cardiff throughout the year, includingWithdrawn the Cardiff Vegetarian Festival. In October, the award winning Cowbridge Food and Drink Festival sees the town at its most vibrant.

*Source: Lindy Wildsmith, cook and food writer 26 South Wales Financial Centre of Excellence

Global connections

Financial and business services companies based in South Wales have access to first-class transport links within the region, the UK and internationally. Road Links 2019 The M4 motorway runs through the entire region, providing a high speed road connection between the major cities that continues on to London. May

A470 A465 Local Road A40 A438 A40 A479 A49 Network A40 A40 21 A465 M137 A470 A40 A463 A48 Abergavenny A40 A465 A465 Ebbw Vale Merthyr Tydfil A465 M4 Pontypool Neath A470 Cwmbran Chepstow Swansea M4

Port Talbot M4 Caerphilly Newport M4 Swansea M4 Bay Bridgend M5

M232 CARDIFF

M5 A38 Withdrawn Barry gov.uk/ukti 27

Rail & Air Links

The main rail line connects Cardiff to London in two hours, with times set to reduce when electrification is complete. The region is home to Cardiff International 2019 Airport, which is under an hour from Bristol International Airport and is also within two hours of Heathrow, meaning the whole world is within easy reach. May Road and Rail Connections21 RAIL ROAD

London - Newport 1hr 50 min London - Newport 2hr 40 min - Cardiff 2hr 10 min - Cardiff 3hr - Swansea 3hr - Swansea 3hr 30 min

NEWPORT LONDON M4 M5 Swindon Reading SWANSEA CARDIFF Bristol M4 Heathrow Bristol Airport Cardiff Airport M25

M5 Gatwick Withdrawn M23 28 South Wales Financial Centre of Excellence

2019

May 21

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