The financial services industry in Scotland

The financial services industry is the fastest growing sector of the Scottish economy, and Scotland is recognised as one of Europe’s leading financial centres.

Much of this success can be directly attributed to a flexible, stable and motivated workforce with highly developed skills ideally suited to the financial services industry.

The Scottish financial services sector

Over 86,000 people are employed directly in financial services in Scotland, with another 70,000 finding work within the network of support companies. The Scottish financial services industry comprises a profitable mix of indigenous and international businesses, across a number of areas such as:

• Banking.
• General insurance, life assurance and pensions.
• Investment management.
• Asset management/servicing.

Scotland has a 300-year history in financial services, and a well-established industry infrastructure, full support network and benign political environment are already in place.

Invest in the Scottish financial services industry

Several of the world’s largest financial institutions have identified the advantages of establishing a presence in Scotland. More than half of the world’s top 20 financial organisations have substantial operations in Scotland and the financial services industry accounts for over 10 per cent of Scottish jobs.

• An extensive supply chain of providers and professional advisers are based in Scotland.
• Scotland’s financial services industry continues to perform strongly against regional and international competitors.
• The world-renowned Scottish academic sector produces thousands of high-quality graduates each year.
• Financial services organisations can make substantial savings by relocating to Scotland.

Support for the Scottish financial services industry

Scottish Development International (SDI) is a Scottish Government business agency, which promotes inward investment and helps Scottish companies develop international business opportunities. We offer active support for financial services in Scotland and a single point of contact for companies interested in developing overseas business.