From FinTech to Accountancy: 4 finance and professional services powerhouses in England

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London continues to hold the top spot for financial and professional services when compared with other major cities worldwide, according to 2022 research by the City of London Corporation.

Serving as banking model references to many banks worldwide, London Stock Exchange and the Bank of England are revered as some of the world’s foremost financial institutions. The UK capital’s expertise, combined with fast-growing FinTech and support for new techniques, has cemented the city as one of the leading lights in the global finance sector.

The City of London Corporation’s annual study looks at 95 comparative metrics and for 2022, added new areas including green finance activity.

Home to six of the top ten global FinTech companies, London performed strongly across all key dimensions, including innovation, reach of financial activity, resilience, business infrastructure, talent, skills and regulation.

London is also praised for its tech and innovation, its legal framework and ability to set international standards, plus being Europe’s leading destination for investment in financial services.

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Located in the heart of the UK and a two-hour train ride from London, Leeds is a leading financial centre with more than 30 national and international banks and the four biggest accounting firms—PWC, EY, KPMG, and Deloitte.

It is at the forefront of strategic thinking and stands out as a thriving banking hub, contributing an astounding £19.8 billion gross value added (GVA). The region has been home to leading financial institutions since the 18th century. It is also the birthplace of the first telephone bank in the UK, First Direct.

Leeds and the wider Leeds City Region also have a number of inherent advantages when it comes to FinTech. These include, already being home to a large number of companies playing a pioneering role, including Panintelligence, Contis, WorldPay and Nostrum Group, and several leading universities producing high-quality graduates.

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Home to the first Lloyds Bank in 1864 to HSBC’s ring-fenced banking headquarters in 2019, the West Midlands has shifted from a manufacturing to a major professional and financial services hub.

One of Europe’s largest and fastest-growing Business, Professional and Finance Services (BPFS) clusters, the West Midlands employs more than 350,000 professionals across its 53,000 BPFS companies.

At the centre of West Midlands, Birmingham features as one of the three established FinTech hotbeds in the UK, with great strength in banking and lending, according to Kalifa FinTech Review. 

Birmingham's centred-cluster has been using foundational capabilities and successfully fostering local connectivity to grow and develop its FinTech sector.

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Barclays, Bank of America, Merrill Lynch and Lloyds are just a few of the major financial services firms rooted in northern England’s largest metropolitan area. 

Manchester is also well-known for its accountancy expertise - with PwC, Deloitte, KPMG and EY having a significant presence in the city, employing more than 2,500 professionals.   

Recognised as a “city of innovation”, Manchester is among the top ten most attractive destinations to fintech occupiers, according to the latest Savill's report. 

Companies are developing innovative solutions in software, data analytics and cyber security, while the large student population is aiding in world-class research.

The city is only a two-hour train ride from London and is also home to the largest international airport in England’s northern region.