In a move to strengthen trade relations with Malaysia and help Manchester 2002 Commonwealth Games preparations, Midland Bank has seconded Mervyn Stephenson to MIDAS (Manchester Investment and Development Agency Service).
The 15-month secondment from the bank in Manchester underlines its commitment to providing support to the local community in the run up to the Commonwealth Games. Stephenson has been appointed director – Malaysia liaison, and works from the British High Commission in Kuala Lumpur, where the XVI Commonwealth Games are to be held in September next year.
His role is to promote Manchester as a trade and investment partner and develop links with appropriate organisations in Malaysia, in addition to identifying both trading and joint venture opportunities that will benefit the Manchester and North West economy.
“Malaysia-British trade has always been pretty strong,” said Stephenson. “There are pricing difficulties for UK exporters at present because of the currency situation, but for people who want to set up a joint venture, now is a very good time. “It’s a pretty good place to do business, everybody speaks English and it can be used as a base to get into South East Asia.”
Stephenson will also work with SUKOM, the committee organising the Malaysian Games, acting as local liaison for Manchester’s role in the 1998 ceremonies and adopting best practice which will lead to the smooth running of the games in Manchester.
Since joining the Midland in 1974 Stephenson has held senior management positions specialising in trade and corporate business, both in the UK and abroad. In the late 1980s he was seconded to Midland’s New York branch where, as vice president – international corporate team, he was responsible for the financing of US acquisitions by UK corporates. He has lived and worked in the Manchester area for the past four years and was divisional trade and international manager before his secondment to MIDAS.
Before his departure Stephenson said: “It’s hoped that by putting someone on the ground in Malaysia we can strengthen the links already established between the two countries but, most importantly forge new ones which will have a direct benefit both to Manchester 2002 and to the business community in the North West.”
MIDAS is the umbrella organisation which is acting on behalf of a number of public agencies in the Manchester and North West area to maximise the economic benefits from the holding of the Commonwealth Games through trade and similar activities.
Councillor Bill Hinds, leader of Salford City Council and chairman of the board of MIDAS, added: “We and our partners are determined to ensure that we use the period between now and 2002 to build the economic strengthens of the region. “The Games in Kuala Lumpur in September 1998 will be an important milestone, and concentrating attention on it will bring economic benefits to this area.”