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Scotland

  • Scotland is recognised as having an established financial services sector
  • it is the 5th largest financial services centre in Europe and the largest centre in the UK outside London
  • Edinburgh (offering substantial employment in banking, credit and life insurance) and Glasgow (offering substantial employment in non-life insurance and insurance brokering) are financial services centres
  • it is a major centre for both fund management and asset servicing
  • there were approximately 86,000 people employed in the region in 2006, accounting for 8% of the UK financial service sector employment
  • a further 70,000 people are indirectly employed to support the sector across a range of other industries
  • it contributes £7 billion to Scottish Gross Domestic Product

Source: FSSC website 2009, FSSC The Skills Bill: Scotland 2008 and Financial Services Clusters 2008