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Two major banks respond to Mayoral call on youth opportunities
The Mayor of London, Boris Johnson, this evening announced that the Mayor's Fund for London has received a seven figure sum from a major global bank to support their work on giving disadvantaged children, young people and their families in London a better chance in life.
Speaking on his arrival at the World Economic Forum in Davos, he also announced that global investment bank Nomura, has pledged £150,000 to work with the Mayor’s office and donate money to projects and education programmes that help young Londoners. At the Nomura-hosted reception, its Global Chairman Junichi Ujiie confirmed their three-year package as the Mayor repeated his plea to London's financial big players to prove their social responsibility. He called on the CEOs and decision makers present to donate their time to the capital’s charities and volunteering projects, and more importantly to bankroll initiatives such as the Welfare to Work programme that helps London's unemployed.
Over the next three years Nomura has agreed to contribute to the expansion of Saturday Schools in the capital, which provide extra educational support to young people out of schools hours. The Mayor and his team regularly meet with heads of businesses and banks, and impress on them the need to pursue charitable and socially responsible initiatives that will benefit those Londoners in most need.
In a keynote speech, the Mayor issued his clarion call. He outlined his concerns that as we move from recession to recovery London’s long term workless will need more support than ever to help them off benefits and back into work. Successive governments have tried, and largely failed, to tackle the huge numbers of Londoners who don’t have the skills or confidence to find work. The Mayor assured those present that he will use his private meetings in Davos to encourage banking chiefs to help tackle this problem and meet the gap between investment we need now and the long-term benefits to London and the UK.
The Mayor said: “I pledged throughout the recession that I would do everything in my power to help ease the financial burden on Londoners. The UK economy might be creeping out of recession, but it is no time to relax as youth unemployment remains worryingly high and many sectors in the capital, recession or no recession, need continued support and assistance.
“I have consistently criticised the current orgy of excessive bonuses and how certain parts of the industry seem so oblivious of the dissatisfaction of wider society. This is why I am very pleased that these banks have stepped up and are now contributing to initiatives that will help young Londoners. I would encourage many more to follow suit. There never has been a better time for them, and big businesses, to show their altruistic, charitable side and increase their giving back to the capital, which in turn provides them with the best location to live in and work."
Sadeq Sayeed, Chief Executive Office, EMEA, Nomura said: “As an active member of the city of London we are proud to be working with the Mayor on this project. Nomura has a long standing tradition of investing in local communities and we look forward to developing this partnership in the future.”
He called on firms of all shapes and sizes across the capital to increase their volunteering work and make a commitment give staff time off to get involved with positive activities that make a real difference to quality of life in the capital.
Notes to Editors
Notes to editor
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