The agreement focuses on shared priorities, including securing investment in Scotland, advancing new technologies, funding nature projects, and promoting Scotland’s financial sector globally.

Signed during a biennial visit to Edinburgh by the corporation’s Lord Mayor and policy chair Chris Hayward, the agreement will be the basis for future financial services collaboration, including the delivery of the Lord Mayor’s proposed Scottish Investment Summit this autumn.

The First Minister said: “The Scottish Government has built a close working relationship with the Corporation over the last five years to support our financial centres and promote their strengths internationally.

“We have strong financial and professional business services sectors, and the signing of the updated Agreement reflects our ongoing commitment to working on shared priorities and opportunities.”

Mr Swinney continued: “As First Minister, I am fully focused on grasping every opportunity awaiting Scotland. I want to make the most of the our skills and expertise, ensuring we continue to enhance Scotland’s reputation on the global financial stage.

“That will help us grow our economy, which in turn will help us eradicate child poverty, improve public services including Scotland’s NHS and tackle the climate emergency. It is not an exaggeration to say that every ambition of my government depends on the success of Scotland’s economy, its businesses and industry.”

He concluded: “After renewing our partnership, we will look ahead to the summit planned for later this year, which will showcase Scotland as an attractive destination for investment in priority sectors including financial and professional services, renewable energy and life sciences.”