In brief

CISI seeds financial literacy foundation with £2.5m

Funding offered to partner with organisations on programmes in the UK and internationally

The Chartered Institute for Securities & Investment (CISI) has launched the CISI Future Foundation, which will provide grants to improve financial literacy skills and the experience and outcomes of financial learning.

CISI said it is allocating £2.5m of its reserves to the Future Foundation. The foundation will offer funding to partner with existing organisations, in the UK and internationally, to work with young people from disadvantaged backgrounds on new financial literacy programmes or initiatives.

Nick Swales, regional director of Rathbones’ Newcastle office, will act as the chair of the foundation.

The foundation’s board of trustees consists of IPSX deputy chairman, chief executive, Alan Ramsay; Investec Bank (Channel Islands) non-executive director, Fionnuala Carvill; and New Clarke Ventures managing director Debbie Clarke.  

There will be up to nine positions on the board of trustees in total with up to three positions appointed by the board of CISI and at least two independent trustees. CISI said anyone interested in contributing or volunteering should have a look at the nomination criteria.

Read more:- CISI launches sustainable investment course

Simon Culhane, CISI CEO said: “We are delighted to be launching our Future Foundation. Building young people’s learning and engagement with financial literacy and money management is an investment in their own personal financial futures.

“The CISI has offices and representatives in Qingdao, Barcelona, Dubai, Dublin, Lagos, Mumbai, Nairobi and Manila and 70 CISI staff in Colombo, Sri Lanka. The foundation is therefore keen to consider initiatives and programmes from globally-based organisations which match its values and objectives.”

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