With high levels of consumer debt causing concern in the UK and financial problems causing strains for many households and individuals, the youngsters of the nation have been receiving encouragement in many ways to learn more about effective financial management and the dangers of getting into debt, from speeches and talks from industry professionals to financial management topics being introduced in the classroom. This is in a bid to try and stop future generations from adding to the debt mountain and to help them to avoid the pitfalls of poor financial management.
However, this week has seen the launch of an academy that hopes to go one step further and encourage youngster to consider entering into the financial services industry by way of a career. The London Thames Gateway Development Corporation has been launched in East London, and enjoys the backing of the UK’s financial regulator, the Financial Services Authority.
The academy will cater for youngsters from disadvantages communities in order to help them to secure a future in the financial services industry, and entry to the academy will be based more on enthusiasm and aptitude for financial topics rather than on formal qualifications.
Major financial firms including Merrill Lynch, HSBC, and Citigroup have developed courses for the academy, and these are designed to provide students with employable skills.
One FSA official stated: “The financial services industry forms a very significant part of the UK economy. With a well documented skills shortage in this industry, it is vital that we encourage more people into financial services to maintain London’s established position as a world leading financial centre. The FSA supports the Academy as an excellent example of a progressive approach to education in our sector. Employers will benefit from the increased flow of enthusiastic, high quality entrants from diverse backgrounds into the financial services industry.”
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