Investment in Yorkshire’s financial services to be promoted internationally

The growing financial services sector in Yorkshire is set to be promoted to international investors, in a bid to promote economic growth outside of London.

UK Trade and Investment will lead the promotion of Yorkshire to global investors as part of the Financial Centres of Excellence initiative, which is supported by local financial services businesses and Local Enterprise Partnerships (LEPs), as well as financial services body TheCityUK.

The sector in Yorkshire is set to grow by up to 21 per cent by 2022, currently employing more than 400,000 people, and is home to the UK’s only independent internet exchange outside London.

The move follows plans for a Northern Powerhouse, with the aim of attracting investment and boosting the economy further North and outside of London.

James Wharton, Minister for the Northern Powerhouse, said: “The financial services sector in the UK goes far beyond London and has a powerful presence in the North of England as well. This initiative is a great way of promoting the fantastic advantages of Yorkshire to financial services companies throughout the world.

“We will continue to work with local leaders and the business community to make the Northern Powerhouse even more of a magnet to the financial services sector.”

Mark Robson, regional director for Yorkshire and Humber for UK Trade and Investment, said: “Yorkshire has always been a great place for innovative financial and professional services, two of the largest law firms in the world started here. I am delighted that we can launch this new drive between UKTI’s global network of specialists and our partners to promote the region to new international companies.”