Across the UK, there are over one million people employed in financial services, and a further 967,000 employed in related professional services. Despite the widely held perception that the industry is predominantly London-based, more than two thirds of employees work outside London.
As our UK financial services map shows, there are significant financial service centres in all regions. Together, they contribute enormously to both the industry's workforce and the diversity of services available in the UK.
Many of these services – such as bank accounts, car insurance, pensions, legal support and mortgage lending – are vital to day-to-day life. Others support our nation's businesses as they market products and services across the globe and maintain a competitive advantage.
UK Strategy Committee
Our UK Strategy is working to rehabilitate the reputation of the financial and related professional services sector and to help to reconnect it with the rest of the economy and the public. The aim is to improve understanding of the sector’s vital role in driving jobs, growth and wealth creation throughout society.
The Committee’s work is supported by key research analysing public and media sentiment towards the industry and tracking the issues being raised by parliamentarians that are of relevance to it. This research drives the cross-sectoral initiatives overseen by the Committee, and allows the Committee to measure the success of those initiatives.
Our UK Strategy Committee complements the work of our Overseas Promotion Committee (OPC) and International Regulatory Strategy Group (IRSG) to maximise opportunities for UK firms overseas, and play an active role in regulatory and trade policy debates.
Understanding financial services
We believe there to be a strong link between the level of domestic support enjoyed by the UK financial services industry and the country's ability to remain the world's leading international financial centre. Working with our members, we are committed to:
- Explaining the case for, and providing the evidence of, the value of financial services to the UK economy and job creation
- Demonstrating to the public, politicians and the media that financial services are integral to the wider economy
We are also committed to building a favourable relationship between our industry and society as a whole. Our initiatives in this area include our Next Generation Vision, which is written by young future leaders and aims to create a positive conversation about what our sector can become.