Financial and related professional services in the North East
Over 12,000 people are employed in finance in Newcastle, 7% of the workforce generating 14% of GDP
The North East has particular strengths in banking, mortgage lending, accountancy and legal services. Newcastle is the leading financial and professional services centre in the region accounting for over a quarter of regional employment in the sector.
The principal cities and towns in the region include Newcastle, Sunderland, Stockton, Middlesbrough and Durham. Newcastle, situated on the north bank of the river Tyne, is the largest city in the region. The North East was at the forefront of 19th century industrial innovation and has recently undergone substantial regeneration.
With 13,000 employed in the sector, Newcastle sits at the centre of a wider financial and related professional services industry in the region, which employs a total of 45,200 people and generates over 8% of regional gross value added. Other cities in the North East with sizable employment in financial and related professional services include Sunderland 6,500 and Stockton 3,900.
Our infographic illustrates the percentage of UK financial services jobs in the North East of England, indicating the major role that the region plays in the industry.
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