In this edition
- Introducing the new President
- From our Consul General
- Diplomacy in action
- In case you missed it, Feb 27 & March 7
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- BABC Network Events
- News & UK/US Trade Updates
- Events of Interest
- Resources/ General Interest
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Dear Members and Guests,
It is my honor to introduce our new President, Jerry Alderman, CEO of New England and Northeast Region at Marsh McLennan Agency.
The appointment of Jerry marks the second time he will hold the office, though some 30 years have passed since his previous presidency.
Jerry’s goals for his Presidency are: “As President, I plan to focus on three key areas.
- First, we need to engage the next generation of professionals conducting business across the pond. Without their involvement the chapter has no plan for continuity.
- Second, we need to further strengthen ties to BABC’s New York chapter, as New York’s business community is so explicitly tied to our own.
- Third, we need to hold meaningful events that home in on key markets such as finance, life sciences and healthcare.
I’m excited for the opportunity to build a diversified member organization that produces relevant business relationships."
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He has started his Presidency on a run, by leading a conversation with the Lord Mayor of the City of London, Michael Maineffi, on February 26, in his offices at Marsh McLennan Agency. This was a BABCNE Member-Only event.
The Lord Mayor gave a fascinating look inside the role of the Lord Mayor and the role of the City of London Corporation. All were impressed by the extensive depth and breadth of knowledge he holds on the historical and modern contexts of business across his square mile (which was acknowledged as neither square, nor a mile!) and the wider UK.
In the US, the City of London Corporation is represented by US Managing Director, Ed Price, who would welcome contact from companies with/seeking investment opportunities in The City. Ed.price@cityoflondon.gov.uk.
If you are not yet a member of the BABCNE and want access to events like this… please get in touch!
With good wishes,
Urszula Wojciechowska, Executive Director
urszula@urszula.org
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From the British Consulate |
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The Lord Mayor of The City of London
A packed two day visit by Michael Mainelli, the Lord Mayor of the City of London, representing London’s beating heart of financial services, including meetings at Fidelity’s FCAT and the CEO’s of Circle, Travelers, Nassau RE, The Hartford, the Metro Hartford Alliance Board and CT-IFS to discuss our CT-UK Insuretech Corridor program – with new shirts to celebrate the occasion.
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BABCNE President Jerry Alderman hosted a sold-out fireside chat with the Lord Mayor at his Marsh & McLennan Agency office in Boston and we are delighted he joined us in Hartford for a day to add his expertise to some great meetings.
MIT European Career Fair
Led by Eilidh Hall, US Director for the UK’s Global Talent Network, we recently participated in the MIT European Career Fair, which was tremendous fun due to a huge turnout of both exhibitors and candidates.
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We received a constant flow of talented students, from first years’ to Ph.D’s seeking knowledge about opportunities and highly recommend this event to British companies looking for talent in New England. Next year our booth will include UK companies and Universities – so please get in touch with Eilidh.Hall@fcdo.gov.uk to find out more about the www.great.gov.uk/GTN
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Final New England Roadshow Pop-Up: Connecticut
Our bi-Annual tour of New England States has come to a close with a fantastic two days in Connecticut meeting Governor Lamont, Hartford Mayor Arunan Arulampalam, hosting a business roundtable and meeting academic leaders at UConn.
A highlight was celebrating our visit with a St. David’s Day reception in partnership with Efe Sokol of the Wales Government, Penderyn Whisky, Highclere Castle Gin and Metro Hartford Alliance in the historic Old State House in downtown Hartford. Our lucky door prize winners took home Fortnum & Mason boxes of UK treats or bottles of Penderyn Whisky!
We are now looking forward to increased Insuretech Corridor activity, strengthening life sciences connectivity through AdvanceCT and building a great program for delegates heading to Farnborough Air Show in July.
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Photo credit: David Fox Photography |
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30th International Business Forum & Networking Evening
"Geopolitical Climate and Implications for International Business"
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The evening opened with remarks by Amy Zeng, Dean of Suffolk University's Sawyer Business School, whose research expertise lies in supply chain risk management and tactics, reverse and sustainable supply chain analysis and design, and global logistics process management. She was followed by:
James Reginald Colimon, Deputy Director of Global Affairs & Protocol, Mayor’s Office, City of Boston, and Jeevan Ramapriya, Executive Director, MOITI.
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Jerry Alderman, BABCNE President and Chief Executive Officer, Marsh McLennan Agency, NE Region set the stage for the panel discussion to follow, which was moderated by Doug Banks, Executive Editor, Boston Business Journal.
Panelists give a birds-eye view of the current situation and what companies should prepare for:
- Geopolitical/ Economic Landscape: Shahruz Mohtadi, Associate Professor, Department of Economics, Suffolk University
- Export/Imports/ Supply Chain: Betty Robson, President, JF Moran
- Sustainability/Climate: Nick Rancis, Manager Innovation, National Grid Partners and Board Member, Fraunhofer USA
- Cybersecurity: Mariano Nunez, President, Onapsis
- Compliance issues: Paula Murphy, Director, Mass Export Center
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In Celebration of Women's Day
"What is ahead for Women's Entrepreneurship?"
March 7, 2024
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Photo credit:
Richard Hawke Filmmaking
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At this collaborative event, we had the honor of co-hosting a wonderfully engaging panel discussion and networking event to celebrate International Women's Day with an incredibly talented group of women entrepreneurs! While the topic was serious ("What's Ahead for Women in Entrepreneurship?"), the overall message was that ✔ grit ✔ hard work ✔ fearlessness ✔ (a little) craziness ✔ enthusiasm ✔ support network ✔ mentor & coach, will get you a long way!
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You may be interested in viewing the events of the twenty chapters of the British American Business Network. The BABCNE is a founding member of this network.
The complete event list, which is updated monthly, can be accessed on this link: https://babn.org/events/
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Did you know?
On 16th January 2024, an estimated 2.1 million additional British citizens abroad received the right to vote in UK parliamentary elections, making approximately 3.5 million citizens abroad who will be eligible to vote in this year’s UK General Election.
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In the news, including US/UK Trade Updates |
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Pound Sterling makes strong start to 2024 as UK recovery from recession to continue
CITY, A.M. Chris Dorrell, MArch 11, 2024
Lower rate expectations tend to hit currencies as it suggests investors will receive a lower rate of return on their investments. Sterling soared last week, continuing a strong start to the year, as the prospect of a hawkish Bank of England continued to attract investors.
Last week the pound recorded its best week against the dollar since November, climbing as high as $1.288 on Friday, its highest level since last July.
Its strong performance last week simply continued a stellar start to the year. According to Bloomberg, sterling has outperformed 90 per cent of the world’s economies so far this year.
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Why hasn’t the UK signed more trade deals?
CITY A.M. Jessica Frank-Keyes, February 21, 2024
On leaving the EU, the UK lost access to the European Union’s trade deals with countries including Israel, Mexico and South Korea.
But the UK has since negotiated a host of new free trade agreements (FTAs) with Australia, Japan and New Zealand, giving British businesses tariff free access to markets abroad, and agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
We’ve ‘rolled over’ around 70 FTAs, meaning we copied the deal we had before Brexit, as an EU member, and, crucially, signed a UK-EU Trade and Cooperation Agreement.
But it hasn’t all been plain sailing.
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UK Trade Deals to date....
The UK has MoUs with seven US states – Indiana, North Carolina, South Carolina, Oklahoma, Utah, Washington, and Florida – with a combined GDP of £3.3tn, just under the GDP of Germany. It is actively engaging with further states including Texas, California, Colorado, and Illinois.
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Effective implementation of CPTPP required says
Lords' Committee
UK Parliament, 27 February 2024
The International Agreements Committee believes that the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could be of strategic importance, but effective implementation will be key to maximising any potential benefits for British businesses.
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EIU report
The war in Ukraine: no breakthrough in 2024
Two years since Russia’s invasion of Ukraine, Russia occupies almost a fifth of Ukraine’s territory, including in Crimea, Donetsk, Luhansk, Zaporizhzhia and Kherson. Both sides have suffered heavy loss—and as peace talks remain a distant prospect, the war faces a stalemate. How will geopolitical risks and relationships influence support for Ukraine in 2024?
EIU’s latest report provides businesses with foresight of the critical global trends and risks that will emerge in 2024 as a result of the Russia-Ukraine war.
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5 Inspiring Women Leaders and Entrepreneurs in 2024
London School of Business and Finance, Samuel Wood, March 8, 2024
Top women entrepreneurs, leaders, and voices to watch!
Across households and boardrooms, women are asserting their influence and raising the standards, inspiring people from every corner of the world.
Taking a closer look at some of these highly successful and revolutionary women can transform your own self-perception. In this article, we present five uplifting stories of the most powerful women in 2024 and their contributions to society.
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Oppenheimer’, ‘The Zone Of Interest’ & ‘Poor Things’ Wins Cap Good Night For Brits At The Oscars
Deadline, Jesse Whittock, March 11, 2024
It was a good night for the UK at the 96th Oscars. Brits won in seven separate categories at the Dolby Theatre, with Christopher Nolan and Jonathan Glazer‘s wins the highest profile.
Nolan scooped Best Director and Best Picture, the latter alongside his wife, Emma Thomas, for the night’s standout winner, Oppenheimer. Universal’s film about J. Robert Oppenheimer and his Manhattan Project took home seven statuettes, having been widely tipped for glory after a stellar awards season and handed Nolan his first Best Director win.
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Other events that may be of interest |
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Maximizing the Benefits of Int'l Trade Show Participation
March 20, 2024 (Webinar)
11:00 a.m. – 12:15 p.m. EDT
International trade shows have become an essential tool for businesses looking to tap into global markets. These events provide a unique opportunity to establish global contacts, evaluate the competitiveness of a company’s products and services in foreign markets, create brand awareness, gain exposure to potential suppliers, channel partners and customers, generate leads, and forge valuable partnerships.
However, maximizing trade show success in a cost-effective way requires careful planning, thorough market research to assess market potential and customer requirements, realistic budget, effective marketing and PR, and well-executed follow-up.
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Women in World Trade, NE Present
Managing Through Conflict
March 26, 2024 (Complimentary webinar)
12:00 pm-1:30 pm EST
International trade is a major driver of economic growth, with exporting firms earning greater profits, paying higher wages, and growing faster than non-exporting firms.
Women-led small and medium-sized enterprises (SMEs) are substantially less likely to sell their products and services internationally than those led by men. Only 11% of women-led firms in OECD countries export, compared to 19% of men-led and 13% of equal-led firms.
Let's change that!
Problems: Career conflict is a major source of stress, with several circumstances unique or more prevalent for women. Add in the cultural diversity that affects women in global trade, and you have a perfect storm of what could go wrong as women embrace global opportunities presented in our current economic climate. Managing through conflict takes skills that we weren’t taught in school or through technical training.
Penny Tremblay, author of Sandbox Strategies for the NEW Workplace, [Rowman & Littlefield 2023] shares her expertise, stories, and current research of top trends for managing conflict to help participants build productive, peaceful, and profitable relationships.
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Resources/ General interest |
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UK trade: December 2023.
Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators.
Business, industry and trade
Activities of businesses and industry in the UK, including data on the production and trade of goods and services, sales by retailers, characteristics of businesses, the construction and manufacturing sectors, and international trade.
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Launched on International Women's Day, March 8
Women of the Hebrides (Ban-eileanaich Innse Gall) by Joni Buchanan is the story of Scottish island women – their quick wit and political determination, hands that were deft with the loom and with the gutting knife, strong backs for croft work, endurance through times of tragedy and compassion and fortitude on the frontlines of war and disease – told in their own words, in both English and Gaelic, and with a wealth of detail and intensive research.
The book will be essential reading for anyone keen to learn about this often neglected part of Scottish history, including those worldwide who trace their ancestry to such remarkable women.
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BABCNE SOCIAL MEDIA
We invite you to follow us, post on our pages and build your network among our community.
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BABCNE Mission: To foster business development and networking opportunities between the United Kingdom and New England.
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