Scotland's financial services strengths

Scotland’s strengths have been recognised by some of the world’s largest financial organisations. Many have chosen to base large operations here.

Scotland’s proud history in financial services stretches back over 300 years. Today Scotland is one of Europe’s leading financial centres and the Scottish industry remains innovative and competitive. 

The most recent quarterly gross domestic product (GDP) data show Scotland’s financial industry growing by 0.5 percent in 2010 compared to 2009. In comparison output in the Scottish economy as a whole grew by 0.8 percent and output in the UK financial services industry fell by 4.5 percent over the year.

Scotland’s financial services industry provides:

  • Critical mass – the UK’s most complete financial services centre outside London, covering the whole country
  • Infrastructure – a strong support network of professional advisers and suppliers 
  • Profitability – competitive costs mean investment here is a low risk option
  • Experienced staff – eight percent of the Scottish workforce directly or indirectly employed in the financial sector, creating a flexible and motivated workforce
  • Industry expertise – network of industry experts provide support to the financial services industry
  • Government support – supportive political enivronment
  • Global Outlook – access to European and US markets as well as the rest of the UK

Financial services skills and expertise

Our tradition of financial services expertise means a highly skilled and flexible workforce is in place. Our first rate academic system, with over 270,000 students in the central belt alone, produces thousands of graduates with relevant qualifications every year.

Scotland’s Centres of Excellence provide academic support for Scotland’s financial services industry

International Financial Services District Glasgow

The International Financial Services District is a purpose built centre of excellence for financial services, cementing Glasgow’s reputation as a world-class destination for the industry. The district has transformed a derelict area of Glasgow into a modern financial services hub, attracting some of the biggest international financial services companies.

Investment in Scotland's financial services sector