The UK’s financial services sector is a cornerstone of the national economy, contributing £209 billion in 2024. Led by the first Financial Services Growth and Competitiveness Strategy and the government’s 10-year Modern Industrial Strategy, the UK stands ready to build on that success—with an ongoing plan for attracting global finance leaders.
Power and potential
As one of only a handful of truly global financial hubs, the UK’s leadership in this sector is widely regarded as one of the country’s greatest strengths. London has consistently ranked second in the Global Financial Centres Index, while both Edinburgh and Glasgow now sit among the most competitive, globally significant financial hubs.
Looking ahead, the UK government is focused on providing the stability and certainty needed for a decade of growth and beyond. There is already confidence in the UK as a stable investment destination, with the country’s financial services exports totalling £92.6 billion in 2024.
Worldwide appeal
The UK’s global positioning is critical to its success. Historically, 41% of UK-headquartered fintech firms operated internationally, and this outward focus endures today.
Few institutions epitomise the outlook better than JPMorgan Chase, which employs over 22,000 people across the country, with major operations in London, Glasgow, and Bournemouth. The bank’s Glasgow Technology Centre exemplifies the UK’s regional finance ecosystem—one that is driven by local talent and a technology-first approach.
Opened in 2024, the Glasgow site benefits from a strong pipeline of graduates from top local universities who are in prime position to grow digital skills within the business. Today, the centre develops critical software for everything from global payments to private banking, pushing the envelope of possibility with AI and fintech.
“We looked across Europe for somewhere that let us invest in advanced technology,” Napier explains. “Glasgow struck the perfect balance of real estate and talent. It’s also very welcoming, diverse, and closely linked to Edinburgh, one of the biggest financial centres outside of London.”
Napier cites the UK’s governing clarity and stability as key reasons why JPMorgan Chase’s senior leadership feels confident about its future in the UK.
“The UK has a strong legal framework, good infrastructure, and relatively stable environment to operate in. It’s vibrant,” Napier adds. “Our investment in the Glasgow office is senior leadership making decisions to say, ‘We’re going to invest in the UK.’”
Expanding opportunities
The 10-year Modern Industrial Strategy promises to take the UK financial services sector to the next level. By hardwiring certainty into the key government mission of growth, the strategy is sustaining talent pools and cutting-edge infrastructure that companies like JPMorgan Chase rely on. Investment in skills will remain a priority, ensuring that firms continue to have access to top-tier graduates specialising in data analytics, engineering, and fintech.
UK Financial Services AT A GLANCE
- London, Edinburgh, and Glasgow rank within the top 40 most competitive, globally significant financial centres
- Revenues for the UK’s fintech market is forecast to more than triple between 2020 and 2030
- The Financial Services sector contributed £209 bn to the UK economy in 2024
As part of the Modern Industrial Strategy, financial services has been identified as one of eight growth-driving sectors. In response, the government is developing the UK’s first Financial Services Growth and Competitiveness Strategy, focusing on advancing the sustainable growth of financial services in the UK. It is also facilitating the launch of a new Office for Investment concierge service, designed to streamline support for financial services firms and attract global capital.
“I think it’s hugely important that we continue to create an environment and a set of circumstances that enablesglobal investment,” says Napier. “All boats rise on competition and good competition creates that environment for business.”
Alongside the Modern Industrial Strategy, the government is also pursuing deeper international partnerships and new multilateral trade deals to reinforce the UK’s standing as a global financial hub. For international business, the message is loud and clear: The UK is ready for the next generation of finance.
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