What we do
TheCityUK represents the UK-based financial and related professional services industry. We lobby on its behalf, producing evidence of its importance to the wider national economy. At home in the UK, in the EU and internationally, we seek to influence policy to drive competitiveness, creating jobs and lasting economic growth.
UK-based financial and related professional services contributed 12% of UK GDP in 2013. Over 2 million people work in the industry across the country, two thirds of whom are outside London. Our industry employs 7% of the population and they are the most productive jobs in the economy - 70% above the UK average. Foreign companies invested around £100bn into UK financial companies since the start of 2007, more than in any other sector. The UK is Europe’s financial centre and leads the way in international banking, fund management, international insurance, private equity and derivatives trading. The UK also holds a leading position in the delivery of accounting services, legal services and management consulting.
The financial and related professional services industry is much more than just London. The industry spreads high value jobs and sustainable economic growth across the UK, with companies choosing to open offices in other centres besides London.
London, supported by the industry across the continent, is Europe’s financial centre. The relationship between the UK and the EU is critical to our industry and to helping financial and related professional services help policymakers address the big policy issues facing Europe. TheCityUK plays a leading role in producing robust evidence on behalf of our members to inform the debate. It is in the industry and the UK economy’s best interests to stay in the EU and to play a leading role within it, seeking reform that will benefit every Member State. Many firms see the UK as a gateway to the Single Market and the UK’s attractiveness risks diminishing should we leave the EU. We work closely with UK and European counterparts to demonstrate the important role our industry has to play across the EU as Europe’s leading financial centre. We articulate the reform our industry wants to see at an EU level to be competitive in a global context.
Financial and related professional services are the UK’s biggest exporting industries. We make a £55bn contribution to the balance of trade, helping to offset the trade in goods deficit. TheCityUK creates market access for its members through an extensive programme of work on trade and investment policy. To achieve this, we work closely with governments and the European Commission to represent member views and help deliver the best outcomes in international trade & investment negotiations. Allied to this, we have a country-focused programme to build relationships and to help open markets where our members see significant opportunities. We also have a strong focus on ways of influencing and delivering regulatory coherence through dialogue with regulators, governments & industry bodies internationally.