TheCityUK has launched a new Defence & Resilience Group (DRG) to help address long-standing policy challenges affecting the funding and expansion of UK defence and national resilience capability.
The initiative reflects the UK’s recent Strategic Defence Review, which highlighted the need for increased commercial investment into defence and a “whole of society” approach to resilience.
The DRG will be co-chaired by Joe Cassidy, Head of Technology, Media & Telecoms at KPMG UK, and General Sir Richard Barrons KCB CBE, Co-Chair at Universal Defence and Security Solutions (UDSS) and co-lead on the Strategic Defence Review 2025.
The Group is being established against a backdrop of increased geopolitical volatility, and will draw on the UK’s position as a leading international financial centre.
What the DRG will focus on
The DRG’s stated priorities include:
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Unlocking private-sector investment for defence and dual-use start-ups and scale-ups
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Supporting investment into defence-related infrastructure
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Mobilising industry expertise — including cyber security and risk management — to help bolster public sector skills
The Group will also work closely with government, regulators, policymakers and industry partners to ensure financial and professional services are positioned to support defence capability and resilience outcomes.
The DRG’s first meeting took place in December 2025 and welcomed Nikhil Rathi, Chief Executive of the Financial Conduct Authority, to initiate a conversation building on themes from his October Mansion House speech, including the importance of closer connection between finance, defence and security.
Building resilience and credible deterrence requires more than intent — it requires:
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the right investment conditions for defence and dual-use innovation
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effective approaches to de-risking investment
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addressing procurement barriers that can deter capital and slow scaling
General Sir Richard Barrons’ remarks in the release underline the delivery challenge — creating the conditions for private capital to back innovation while protecting the critical infrastructure and services the UK relies on in a crisis.
UDSS welcomes initiatives that bring together the defence community, investors, regulators and professional services to turn strategic intent into practical outcomes. We’ll continue to support dialogue and delivery across the defence and resilience ecosystem — helping connect strategy, investment and implementation.
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