Scotland is one of Europe’s leading financial centres. It is internationally recognised as one of the most important UK financial centres, outside London and the South East.
The Scottish Financial Services Industry:
- Employs around 95,000 people directly, and over 70,000 indirectly
- Generates around £7 billion for the Scottish economy or 7% of GDP
- Manages over £800 billion of funds
- Accounts for 24% of all UK employment in life assurance and 13% of all banking employment
- Comprises areas of financial services as diverse as: banking; fund management; insurance, life assurance and pensions; asset servicing
Scottish Financial Enterprise (SFE) is the membership body for the financial services sector in Scotland. We are a member of SFE, which provides our business access to key financial services sector events, market insight and networks. It is a good resource for industry data and on the Scottish financial services industry.
PWC regularly comments on the performance of financial services, providing in-depth analysis:
Further information on the sector can be found at the following:
Scottish Investment Operations: http://www.sio.org.uk/ is a representative body which supports financial services members to develop skills and talent.
The CityUK represents the UK wide financial and related professional services industry. It lobbies on behalf of members in the UK, the EU and internationally. The organisation seeks to influence policy to drive competitiveness, creating jobs and lasting economic growth.
Further information on Scotland's financial services sector can be found at:
*Sources: SFE, The CityUK, Scottish Development International