Phil Hope floats idea of Social Stock Exchange at CFDG’s 20th Anniversary

4th March 2008

Phil Hope, Minister for the Third Sector, speaking at CFDG’s 20th Anniversary celebrations, mooted the idea of a social stock exchange. Hope said: “I know it’s a controversial idea but it’s one that has real merit in terms of opening up new investment opportunities for the capital market. A capital market that delivers both a social as well as a financial return is attractive to investors.”

Hope went on to say that proposals around what a social stock exchange might look like were currently being thought through but that were still very much at the ideas stage.

The Minister also went on to congratulate CFDG on its contribution to the sector over the last two decades. CFDG celebrated its 20th Anniversary at St Paul’s Crypt on 27th February with 200 sector figures in attendance.

CFDG came into being in 1987 and was the brainchild of Adrian Randall, then new to the sector as finance secretary of the Cancer Research Campaign. Adrian Randall said: "When I started out in the charity world there was little or no support for senior charity finance staff. This was particularly true for many of us accountants who were new to the sector with a need to get up to speed quickly and go on keeping up to date with developments. So a small group of us got together over a 'pie and pint' to learn from another which then led to the formation of CFDG."

From this start CFDG has progressed over twenty years to become one of the major umbrella organisations in the sector with circa 1,450 members and a portfolio of products and services for members spanning membership, policy, best practice, and professional development.

The 20th anniversary celebrations were supported by CFDG subscriber companies Anglo Irish Bank, Horwath Clark Whitehill LLP and PS Financials Plc.

- Ends -

Notes to Editor:

The Charity Finance Directors' Group was set up in 1987 and is an umbrella group that specialises in helping charities to manage their finance-related functions.

CFDG’s circa 1,450 members are responsible for the finances of charities with a wide variety of income levels. Between them our members manage some £13.7 billion in charity income per year.

Main sponsors of the event are:

Anglo Irish Bank, which is among the most respected of financial institutions operating in Britain and Northern Ireland. The bank provides a comprehensive range of Corporate Treasury Services and International Trade Services, Commercial Property Finance and a broad range of Personal Savings accounts.

Horwath Clark Whitehill LLP, which is a leading firm of accountants in the UK and is represented in over 15 locations throughout the country. Their world-wide network, Horwath International, services clients in 415 offices around the world. Their high partner to staff ratio demonstrates their commitment to personal service.

PS Financials provides a real accounting solution for Charity FDs and is already widely used by medium and large charities and NFP organisations that all benefit enormously from its ease of use, automation of processes and ability to show the 'total' financial picture - all of which saves them significant time and costs. PS Financials was voted top in the Charity Finance accounting software survey (February 2008) in the categories best supplier and best accounting software.


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