A great many financial services businesses – both indigenous companies and major international investors – have identified the benefits of establishing operations in Scotland.
Scotland has been named European Region of the Future 2008 by the Financial Times fDi (Foreign Direct Investment) magazine and seven of the top 20 companies in Scotland are financial services businesses.
Scotland – a great place to do financial service business
Scotland is the second largest financial services centre in the UK and the political regime is supportive of business. There is a higher concentration of financial services professionals in Scotland than in other major centres, meaning a full business infrastructure already exists.
- Scotland is a leading European financial centre for asset servicing on behalf of fund managers.
- Over £500 billion of funds managed directly in Scotland, with £250 billion of that invested worldwide in equities and bonds.
- Scotland is home to two of Europe's biggest banks as well as a further two clearing banks.
- Scotland has attracted important multinational firms, with over half of the world’s top 20 financial services businesses having substantial operations here.
- The country is particularly recognised for its strengths in banking, life assurance and pensions, investment management and asset management.
- Excellent transport and communications links support the financial services industry
What Scotland can offer financial services businesses
Scotland is a world-renowned location for financial services companies and a major European business centre with an internationally recognised workforce. Despite this, the costs involved in establishing operations in Scotland are considerably lower than in many comparative locations.
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Scotland is a low-risk option for inward investors, with favourable regulatory conditions and expert skilled labour.
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Financial services businesses report as much as 50 per cent wage advantage when transferring high-value investment jobs to Scotland.
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Scotland has particular academic strengths in business studies and accountancy as well as languages.
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Scotland has a flexible and well trained workforce, including 190,000 foreign nationals, thus allowing employers to recruit staff with language skills relevant to operations.
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There are over 25,000 qualified and part-qualified accountants in Scotland.
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Scotland offers an excellent quality of life for those working in the financial services industry.
Invest in Scotland’s financial services industry
Interested in investing in the Scottish financial services industry.
Find out more about the financial services industry and the benefits for your business. SDI is committed to helping both Scottish companies and international businesses interested in financial services in Scotland