The Financial Services Skills Council is restructuring to become a charity and will rebrand as the Financial Skills Partnership in January.
Chief executive Liz Field says the rebrand reflects the council’s new focus and the range of employers it represents.
She says: “The change of name reflects the change in culture in the organisation. We are the employers’ voice on skills and we stimulate the supply of skills to meet employers’ demands.
“We can only do that in partnership with employers and other stakeholders. The new name also reflects the fact that we represent employers from finance, accounting and financial services.”
The FSSC is currently funded by employers through its membership scheme and sponsorship and it is also paid bythe Government for specific projects.
The Government funding will remain in place once the council becomes a charity.
A separate commercial arm will also be established as part of the FSP structure which will be responsible for any commercial business such as consult-ancy that the FSP undertakes.
Field says: “As a lot of our work has charitable intent. Becoming a charity is a natural move for us.”
The FSSC board has already agreed the change of name and the switch to charity status.
In May 2009, the FSSC’s application to be relicenced was turned down by the Government, with Skills Secretary John Denham saying the body “did not meet the standard required”.
This triggered a strategic review of the organisation which led to the FSSC being awarded a new licence in March.
Field joined as interim chief executive in October 2009 and was appointed to the role permanently in May this year.