Call for city to be 'Welsh Wall Street'
A SWANSEA MP wants Swansea to become a Welsh version of Wall Street.
Geraint Davies made the call as he toured a city firm that has the largest trading floor in the UK outside of London.
OSTC has an office based at the Technium building in the SA1 development.
Since it opened four years ago, it has expanded to employ 80 staff, the majority of which are fresh-faced graduates from Welsh universities.
Yesterday the Swansea West MP met with bosses to discuss their future plans and said the success of the company could be used to attract other financial services to the area too.
"We need to get the message across that Swansea is open for financial business," Mr Davies said.
"Swansea Bay is a welcome alternative to the cost and congestion of London.
"We already have the financial giant Admiral and it is time to build up our financial community to retain and build skills in our city and to boost our spending power on the high street.
"Swansea is already a cultural and economic hub and a global brand thanks to our sporting success so let's keep up the momentum and make Swansea a hot spot for new investment."
Thanks to the success of the business OSTC, which has 13 offices across the globe, has plans to employ around 30 graduates next year, taking their staff to well over 100.
And Mr Davies added he was hugely impressed with the work they were doing in recruiting skilled graduates who come to study in South Wales.
"It is a great example of a company keeping talented people in Wales rather thank losing them in a brain drain to London," he said.
"I met with a group of 15 new graduates, most of who were from Wales.
"Clearly they are going into a good profession, a profession they would have otherwise gone to London for.
"I want to ensure we use them and our universities and other businesses to build skills and job in Swansea."
"This is a jewel in Swansea's crown. We need to use this as part of a strategy to build a financial community," he said.