Today, 11 March, marks the 140th anniversary of the establishment of The London Institute of Banking & Finance.
The Institute of Bankers, as we were called in 1879, was set up by a small group of bank workers who got together to help gain recognition for workers’ skills. They set up lectures, provided educational resources and put in place a formal qualification – open to any bank worker – to help workers advance their careers.
Since 1879 over 1.5 million people have studied with us, building careers in the sector and developing financial capability and confidence for life.
How The London Institute of Banking & Finance has changed the industry
Alex Fraser, Chief Executive of The London Institute of Banking & Finance, says:
140 years ago, there was very little opportunity to acquire skills and knowledge to move up the career ladder in banking. Our Institute changed all that and created opportunities for promotion based on merit rather than privilege.
Today, the skills you need for a career in finance are completely different to even 20 years ago. Workers today need to be digitally savvy and know how to add value in a digital world.
Of course, we’ve evolved too - our professional qualifications now span banking, investment, regulated advice and trade finance, to name just a few; we’re a degree-awarding body, with our own university college in the heart of the City. And we provide financial education in schools at GCSE and A Level, as well as working with vulnerable communities to improve financial capability more generally.
Key stats
- Over 1.5 million people have studied with us since 1879 – building careers in the finance sector and developing financial capability and confidence for life.
- Today we have a global community of over 24,000 members in banking and finance with students and members in 120 countries.
- We work with over 800 schools around the UK to improve financial capability among young people, reaching around 50,000 children a year.
Help us celebrate and support our 140th anniversary