Top boss who was given a briefing by foreign offices about global risk

The leading business executive will receive a briefing from foreign offices about global risk including conflict and trade tension as part of a broader strategy to help British companies develop abroad.

Representatives of the Premier League, Lloyds Bank and PWC are among those who attend the first event at the Lancaster House where leading diplomats are determined to provide advice on doing business in countries around the world.

The new government advisory service, which has been entitled The Geopolitical Impact Unit, has been created to give a company “directly from the source of” insight into global tension and developing abroad, binding the mission of government growth with foreign policy in the midst of “churning geopolitical era”.

Officials also hope to replace “expensive” private consultants, which allow companies to spend less to reduce risk costs.

Head of Diplomat David Lammy said this initiative could help provide business expertise in new fields that were interesting to the British and connect business leaders around the world.

“We help complete the British business with the insights and contacts they need to compete and win in the global market,” Lammy said.

“Working with business in this way, overseas offices quickly become a global arm for UK PLC, so we can create jobs and put more money into the pockets of people who work.”

Overseas offices aim to offer alternatives for risk experts

The first summit on Monday afternoon focused on markets throughout Southeast Asia, including Indonesia and the Philippines.

In a separate meeting, Minister of Investment Poppy Gustproma met with the executive of Shinhan, the second largest bank of South Korea, to announce an investment of £ 2 billion into energy, digital assets and broader financial services sectors.

Head of Shinhan Jung Sang Hyuk said the expansion of his office in London was a “strategic decision” to enable workers based in the UK to provide greater value to customers.

City companies have cut a team dedicated to geopolitical risks despite increasing tariff fears, conflicts erupted and other economic shocks emerged.

HSBC has cut off its geopolitical risk team, according to a new report by Bloomberg, while Citi has moved jobs out of London and New York where employees may be cheaper.

Meanwhile JP Morgan started his own geopolitical center to offer advice on various markets while Goldman Sachs also offers advice on international relations.

The British government has taken active steps to collaborate closer to leading global investors, with concierge services that offer foreign companies and entrepreneurs’ advice about visas and regulations that will be launched later this year.

The peak executive personally questioned whether such initiatives were needed, showing that specialist advisers were available and higher tax threats for rich business and permanent investors.