Cyber firm called up to protect top-tier UK financial services
The very exclusive club handpicked to help keep the UK’s top financial institutions safe from cyber criminals grew by one this week, revealing a fast-growing firm based right here in Gloucestershire.
Dear readers,
Welcome to Friday’s edition. As we edge back to some kind of normal service I would like to welcome the numerous individuals who spent August signing up as subscribers to The Raikes Journal.
We’re now chasing down 1,000 subscribers. That might seem small, but Raikes is growing entirely organically and has an incredible rate of readership. More so than any other database I’ve touched to date.
When you consider Monday’s edition was read by more people than we sent it too - which is often the case - and that we’re now touching 12,000 views a month for our email edition - that’s not too shabby.
You could say that with six to 10 stories per edition on a Monday and Friday, if you went by views per story (what everyone else does) you can multiple 12,000 by at least six-fold. But we don’t. Although we do think that in 18 months that’s pretty good - and about halfway towards optimal critical mass.
We remain supported by our fantastic Founding Partners, Founding Members and paying subscribers - and to help bolster that number and allow us to continue to do what we do - real journalism about Gloucestershire - we’re currently running an offer on annual membership below (you can thank them for today’s edition not being paywalled, as is usually is on a Friday).
If you don’t pay to subscribe currently, please do consider it!
We’re a community interest company and the only editorially-led, independent, business-focused digital platform edited by a journalist in the county.
Have a great weekend.
Best regards,
Andrew Merrell (editor).
Gloucester’s The Forum office space has new competition…
It’s officially open, but just how challenging its ambitious project to repurpose the former Debenhams building in Gloucester and turn it into its new city centre campus is becoming clear. The University of Gloucestershire has officially opened the doors to the new-look building, but lots of the vast space remains still up for grabs. And it’s announced the appointment of commercial agent Alder King to help it work out how best it can use the building and is open to ideas from “commercial partners”. With the nearby Forum development still yet to fill all of its space too, the battle is on. Will the premium-priced Forum lose out? The city campus, which opened to the public in August, is now home to the university’s education, psychology and social work programmes.
Briefing notes…
👩💼 The granddaughter of one of the founders of Gloucestershire-headquartered manufacturing, engineering and tech giant, Renishaw, has joined the board of the firm as a non-executive director. Camille Deer, whose grandfather John Deer founded the Wotton-under-Edge-based firm with Sir David McMurtry, has previously acted as an observer on Renishaw’s board. Camille, 31, has experience in intellectual property, innovation and risk management, and holds an MA and MPhil in History from the University of Cambridge. She was previously a director of Swansea-based Regeninx, which specialises in research and experimental development on biotechnology.
👩🏫 Chiquita Henson, the chief executive officer of the Gloucestershire-based Corinium Education Trust, has announced she will step down on December 31. Henson is said to have been pivotal in founding the Cirencester and South Cotswolds trust in 2018. Since then it has grown from three schools to six, all rated good by Ofsted. She joined Cirencester Deer Park School in 1989, becoming head of English to headteacher in 2003 and remaining in that position for 19 years. She also chaired the training provider Gloucestershire Initial Teacher Education Partnership for many years. The Trust Board is now actively seeking a new CEO.
🏗️ If you went by social media posts you’d think the Golden Valley is the happening development in Gloucestershire. Some say the smart money, however, is now on the redevelopment of Berkeley Science and Technology Park in the South of the county beating it to the start line. Plans for the nuclear and clean energy research and development facility beside the River Severn have now been submitted to Stroud District Council. The proposal claims it could bring 1,000 jobs and 600,000 square feet of manufacturing, education and laboratory space. Will it actually happen? Project manager for the Berkeley scheme, Gerry Hughes, told the BBC there was already “significant interest” from a number of businesses.
🧴 Iconic British designer Paul Smith has partnered with Gloucestershire-based SLG Brands to bring a new range of men’s personal care and grooming products to market. Founder and creative director of the Cheltenham firm, Miles Dunkley, took to social media this week to announce the fact - and praise his team for doing a “brilliant job”. Smith is not the first big name to use the skills of Dunkley’s firm. Others include Superdry, Julian McDonald, Little Mix, Fearne Cotton and Laura Ashley. Expect to find the new Paul Smith range in Boots.
Diary Dates…
Friday:
Cheltenham Cricket Club Beer & Wine Festival 2025 - Friday: 6pm - 10pm.
Concert: Dub Catalyst play Croft Farm Water Park, Tewkesbury.
Stonehouse Walking Festival begins today and lasts until Sunday 14th Sepember.
Saturday:
Gloucester Day - Two parades, a costumed 1643 civil war demonstration of Musketry at the Folk of Gloucester, a community market, Thanksgiving Day service at St Mary De Crypt and more as the city continues to revive the historic Gloucester Day of 1643.
Gloucester History Festival kicks off too and tuns until 21 September.
Cheltenham Cricket Club Beer & Wine Festival 2025 - Saturday: 12 noon - 10pm Sunday: 12 noon - 6pm
Sunday:
Cheltenham Cricket Club Beer & Wine Festival 2025 - Sunday: 12 noon - 6pm.
* The Raikes Journal is a digital magazine and community interest company whose supporters believe, like us, that journalism about Gloucestershire is worth keeping alive. Everything you read here - original stories about our county - is made possible by our incredible Founding Partners: QuoLux, Willans LLP, Gloucestershire+ College, Merrell People and Randall & Payne; our sponsors, Founding Members and wonderful paying subscribers.
If you upgrade to paid you’ll be part of this CIC too. We’re dedicated to championing the county, its businesses, charities, education and training providers, and to creating an even stronger community. If you upgrade to paid you’ll be able to see past the paywalls often put on our 2cnd and 3rd email editions of the week, that lock our archive after two weeks and our Top 100 Businesses in Gloucestershire series. You’ll be able to comment on our stories too.
Usually you can sign up for just £2.30 a week - or £1.80 a week if two or more people sign up at once. Or go all in and become one of our Founding Partners or Founding Members!
But we’re currently running this offer to make it even cheaper (just £160 a week for a year!!).
For every person you refer to The Raikes Journal’s email service you get points towards a free membership allowing you to see beyond our paywalls. Please do sign up (free or otherwise), send the referral link to a friend or colleague, and help us grow.
Cyber firm called up to protect top-tier UK financial services
The very exclusive club handpicked to help keep the UK’s top financial institutions safe from cyber criminals grew by one this week, revealing a fast-growing firm based right here in Gloucestershire.
We keep hearing Gloucestershire is a hotbed for cyber entrepreneurs, but less about who they are and what the do. So often the discretion their work demands cloaks them in relative anonymity.
But every now and again the cloak falls away, a news story reveals and name and the curious among us have an opportunity to find out a little more about the business and what it does.
And even to ask if being based here in the county is really as significant as we keep getting told.
This was the case with the announcement this week that Prism Infosec had been chosen to join a small number of elite cyber security firms tasked by the likes of the Bank of England with defending the UK’s premiere financial institutions against online criminals.
Our conversations with that company also revealed how the move will help the already fast-growing firm, which aready has 50 staff, drive even more growth - and just how big cybercrime is in the UK.
Cyber breaches in the UK financial services sector have tripled in recent years. Between 2021 and 2023, attacks on the sector rose from 187 to 640 - an increase of over 240 per cent.
In the South West, 4,000 cyber-related crimes were reported last year, costing organisations £73.3 million.
If you run a top tier financial institutions or financial market infrastructure organisation (FMI) in the UK you don’t just call anyone to ensure your systems have adequate defence.
You must call one of an elite group of 16 firms, which incudes just three businesses in the South West, of which Prism Infosec is now one.
The Cheltenham-based business is now accredited to carry out what are called CBEST certification tests (Cyber Security Business and Resilience Testing), administered by international accreditation and certification body, CREST, on behalf of the Bank of England.
Phil Robinson (pictured below), founder and chief executive officer of Prism Infosec, which is based in Eagle Tower, said: “We’re proud to have achieved this world-class accreditation as a threat-led penetration testing provider under the CBEST scheme.
“Our team brings decades of experience delivering bespoke services across critical national infrastructure, government, and the banking and financial sector, supporting organisations in meeting and exceeding the required regulatory standards.
“Holding both CBEST and STAR-FS accreditations, a complementary framework for simulated cyber security testing across the financial industry which we achieved last year, places us among a select group of UK providers trusted to strengthen cyber resilience across the entire financial services sector, including the UK’s most critical and top-tier institutions.”
Founded in 2006, Prism Infosec already delivers range of cyber assessment services to some of the world’s largest organisations including major enterprise Silicon Valley firms, media and technology companies, globally significant banks and His Majesty’s Government and UK defence firms.
It also holds a series of industry-leading certifications administered by bodies such as the National Cyber Security Centre (NCSC), UK Government as well as CREST (an international not-for-profit, membership body representing the global cyber security industry).
Robinson told The Raikes Journal the accolade would also help drive the firm’s already sizeable growth.
“We’ve grown just over 25 per cent year on year from last year, our red team (the practice of emulating real-world attackers to test an organization’s security defences) revenue continues to grow as we build our reputation in the space
He added: “BEST (the most effective and appropriate methods to reduce risk and protect systems) and red teaming is a growth area within the cyber space growing at a faster pace than traditional penetration testing.
“The requirement for red teaming or threat-led penetration testing, is driven by global regulators therefore the potential to grow both our business, but the industry as a whole is significant. “
As well as the Bank of England notable regulators also include the FCA, PRA, European Central Bank, Singapore Monetary Authority.
Threat-led pen testing is part of the DORA Act within the EU which requires by law financial services and associated businesses to perform testing.
Which means top UK financial institutions are legally required to undergo CBEST test every three years.
Hollie Wakefield, general manager of CyNam, the influential Cheltenham-headquartered cyber-focused network, said: “It’s brilliant to see a Gloucestershire-based firm achieving national recognition for its expertise in cyber security, especially in such a critical area like financial services.
“This kind of success really highlights what we already know: Gloucestershire is a fantastic place to build and grow a cyber business.
“With a strong talent pool and a collaborative community sitting at the heart of a world-renowned ecosystem, it’s no surprise that companies like Prism Infosec are thriving here.
“We’re proud to support and celebrate these achievements.”
Robinson said: “Cheltenham has a rich history with cyber security both in terms of GCHQ but also with regards to people locating to the area as it’s known for cyber security.
“There is a significant cyber community here with events such as BSides Cheltenham, Cynam as well as other community events always very well supported
“Major cyber businesses have been located within Cheltenham for many years.”
He added: “The UK is a market leader in helping organisations bolster their defences against online threats.
“This is due in part to the skills, talent, and capabilities within our mature cyber security sector, thanks to our ever-evolving accreditation and certification schemes.”