Against the current challenging economic backdrop, the UK-based financial and related professional services industry continues to play an enabling role in supporting economic growth, and to support individuals and businesses in their day-to-day activities through familiar services like saving, mortgage provision, and business lending. The data presented in this report highlights the multifaceted contributions made by the financial and related professional services industry.
Our research delves into the contributions of the various industry components and sub-components, examining their role in job creation, retail financial services, corporate fundraising, and more. For example, the latest available data show that the financial and related professional services industry employed more than 2.4m people across the UK in 2022. In that same year, UK-based fund managers managed more than £10trn in financial assets, and UK private equity funds invested almost £30bn in UK companies.
As we embark on a long path of economic recovery, the insights in this report provide crucial evidence for policymakers and industry stakeholders of the value and contribution of the financial and related professional services industry. Understanding the industry’s manifold contributions is a critical first step towards formulating informed strategies that will maintain and enhance the industry’s competitiveness, allowing it to continue to drive UK prosperity.
