Edinburgh's financial services sector
Europe’s Best Large City of the Future and Best Large City for
fDi Strategy 2012/13 (FT, fDi Magazine, Edinburgh is the UK’s
second most competitive financial centre, a major European centre
for asset management and asset servicing and home to the
Headquarters of the UK Green Investment Bank.
In world terms the capital ranks ahead
of Dublin, Istanbul, Beijing, Prague, Bahrain, Moscow,
Mumbai and Budapest in the Global Financial Centres Index (GFCI).
The city employs 35,000 people in financial services and is home
to two of the world’s 150 top financial services companies as
ranked by Forbes.
The financial services sector of Edinburgh is extremely diverse,
and the city has
critical mass in banking, life insurance and
pensions, asset servicing and investment management. More than 90%
of all Scottish fund managers are based in the city region. It also
has vibrant corporate finance, brokerage and professional services
The key assets of the sector within Edinburgh are identified as
the skills base of the city, the critical mass of the sector (in
terms of the workforce and business base) and the global reputation
of Edinburgh for financial services.
The financial services
talent pool is broad, multi-skilled and
exceptionally well-qualified, with a high proportion of
The largest financial services sector companies headquartered in
the city are the Royal Bank
of Scotland Group, Standard Life,
Gifford and Tesco Bank.
The sector in Edinburgh has attracted significant inward
investment, with a large number of foreign-owned companies having
operations in Edinburgh.
Multinationals with a presence in the city include
BlackRock, HSBC, Société Générale and the Bank of New York
Edinburgh has a rich
history of financial services innovation and
can lay claim to world-changing innovations including the mortgage
and internet banking.