Mayor, City of Boston
Mayor Martin J. Walsh, an accomplished advocate for working people and a proud product of the City of Boston, was sworn in as the City’s 54th Mayor on January 6, 2014. With a commitment to community, equality and opportunity for every resident and neighborhood, Mayor Walsh has the record, skills and passion to move Boston forward. With an estimated population of 645,966, Boston is the largest city in New England and the 24th largest city in the U.S.
Boston’s thriving financial services sector has long been an economic driver for the region and includes a vibrant finance portfolio of services from asset management to venture capital to private equity. To promote Boston as a global financial center, Mayor Walsh is co-hosting Global Boston – Gateway for Innovation on March 11 at the Hyatt Regency, Boston. This event will showcase Boston’s global leadership role as a gateway for innovation, plus the important global role of our colleges and universities through their international collaborations.
What trends are you seeing in financial services in Boston?
We are beginning to see a resurgence of local banks and proliferation of alternative lending and funding structures. The sharing economy continues to grow and presents both opportunities and challenges. As companies and business models proliferate, I want to see the City of Boston, as a government entity, support and appropriately regulate industry to encourage growth while we protect consumers.
What are the advantages of doing business in Boston?
Boston is proud to be home to a tremendous pool of talent, and our robust higher education cluster is a terrific asset. Logan airport has a record number of international direct flights and continues to expand, and I take a regional view of our economy. Engaging with surrounding communities and leveraging each other’s assets will benefit not just Boston or businesses located within city limits, but the entire greater Boston area.
How does the financial services ecosystem in Boston effect talent in the city?
Mutual funds were born here with the creation of the Massachusetts Investors’ Trust in the 1920s. Boston continues to be a leader in the financial services industry, making us very attractive for professionals looking to make a mark in this sector. Our exceptional higher education assets feed the talent pipeline and the opportunities within our financial services institutions encourage young professionals to stay and raise families here.