Connecting Business – Growing Opportunities

Causeway is delighted to have the Scottish Stock Exchange as a member

Meet Tomás Carruthers who is heading up Project Heather

“Project Heather, the name for the venture to create a Scottish Stock Exchange, is delighted to become a member of the Causeway Exchange network. The power of networking and collaboration has never been more relevant to us as we set out to build a new type of capital market.

“We are small in number but growing, an assembly of individuals with deep experience in our respective fields - finance, trading, marketing, people, compliance, regulation, operations, systems, communications - with a shared vision to transform capital markets and enhance Scotland's position on the global stage. There is strength in our diverse backgrounds, much like the business community that comprises the Causeway Exchange network.

“Project Heather was founded by a team with a clear purpose, and with years of experience in financial services. (Experience: that word used to summarise the wisdom that comes from both success and failure, for we all know there is no more defining way to learn than through our mistakes.) My own career began before leaving university, having co-founded Electronic Share Information, the first company to bring online real-time share prices to the UK; later, I was involved in bringing online share purchasing to the UK, with Interactive Investor. The use of emerging technology to create new ways to operate in capital markets has been a recurring motif, and it was with the burgeoning global need for impact investing that this current project came about.

“At Project Heather, we aren’t just building a stock exchange. Project Heather is not only the first stock exchange for Scotland in 50 years, it will be the first Recognised Investment Exchange to require every issuer to report on their impact. It’s time that impact investing moved into the mainstream - as actions by climate change protesters are ably communicating, time is running out to limit and reverse the damage wrought by our existing and habitual ways of doing things.

“Changing the financial system is no small feat, and that’s why collaboration and collective action is vital to the development of impact investing - a growing market, but one which will be stronger if participants share their learnings, their failures and their successes. Capital markets, as the name suggests, cannot be built by one person or one team, but with the collaboration, support and momentum that can only come from a widening ecosystem of participants.

“We will be sharing our learnings as we examine impact assessment models and put our own organisation through the processes to build an impact company. We welcome companies and leaders interested in joining us on this journey; whether curious about the listing process or how to design impact and purpose into your company, we’re here to help, and to host an ecosystem of collaborators to help effect change.

“Anybody who has built a business, or taken it into new markets, knows the challenges. The development of business and economic relationships is vital to overcoming them. We’re looking forward to being part of this network of Scottish and Irish businesses and forging relationships that lead to greater capacity, making positive social and environmental contributions as we do so.”

As a member of Causeway, you can surround yourself with fellow business professionals and get the business support and advice you need to succeed. Become a member today or contact us for further information.

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