(Bloomberg) --

British Chancellor Kwasi Kwarteng is set to host representatives from top Wall Street firms on Wednesday, part of his outreach to discuss the government’s growth plans, which have caused turmoil in financial markets.

Executives from lenders including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley will meet with Treasury officials, according to people familiar with the situation, who asked not to be identified discussing private matters. It follows days of market tumult that has seen the value of the pound plunge to a record low against the dollar. 

Representatives for the banks declined to comment. A spokesperson for the Treasury wasn’t immediately available to comment.

As well as Kwarteng, bankers are expected to meet with City minister Andrew Griffith, who is the main liaison between the financial services industry and the government. They are expected to discuss the UK’s growth plan, according to two other people familiar with the meeting.

The meeting comes after Kwarteng hosted executives from major asset management firms on Tuesday to hear their views on his growth plans. Attendees who included Fidelity International Chief Executive Officer Anne Richards and Legal & General CEO Nigel Wilson were told by Kwarteng he remains confident in his plans despite the market reaction. 

“We are committed to fiscal discipline,” he told the meeting, according to a readout from the Treasury.

This week’s meetings comes less than a month after Kwarteng met with chief executives and senior figures from banks, insurers to lay out his aim of a “Big Bang 2,” designed to unleash a fresh wave of deregulation in the City of London.

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