Asset management and servicing in Scotland
Scotland is a global fund management centre, with over £530 billion in funds managed directly in Scotland. Having quickly gained recognition as a leading centre for asset servicing, Scotland has become an important base for the major international players in this sector.
Asset management in Scotland
Asset management firms operating from Scotland have a strong presence in institutional, retail and private client markets. Scotland’s asset management sector encompasses a broad mix of large corporate and smaller employee-owned businesses.
The companies working in this area include Aberdeen Asset Management plc, AEGON Asset Management UK, Baillie Gifford, Franklin Templeton Investments and Martin Currie Investment.
Asset servicing in Scotland
Scotland is a major European centre for asset servicing on behalf of fund managers in Scotland, the UK, other parts of Europe and worldwide. Global asset servicing organisations employ over 3500 people in Scotland, and the services they provide include:
- Custody.
- Securities servicing.
- Investment accounting.
- Performance measurement.
- Trustee administration.
- Shareholder services.
- Compliance.
- Client management.
- Retail fund administration.
Leading companies with a presence in Scotland include Bank of New York, Morgan Stanley, State Street, Citigroup, JP Morgan Europe Ltd and BNP Paribas. In recent times this sector has been a key driver of employment growth within Scotland’s financial services industry.
Asset management/servicing in Scotland – features and benefits
Scotland’s world-renowned academic sector produces thousands of business and finance graduates every year, with many finding work in asset management or servicing. The Scottish workforce is one of the best-trained, most reliable and most cost-competitive in the world, and labour regulations are among the most flexible in Europe.
Substantial salary, property and tax savings can be made by asset management/servicing companies looking to relocate to Scotland without repercussions for quality.
Scottish Development International provides active support for the financial services industry
Contact SDI to discuss the support offered to the asset management/servicing sector in Scotland and all other financial services industries