News Article Published:
Wednesday, 14 May 2008
Category:
Financial Services
The UK's financial services sector has maintained its strong international position throughout the credit crunch, according to a new report.
With an 18 per cent global share last year in financial services, London has clung onto its leading international position as a financial centre, the International Financial Markets report reveals.
Financial services marketing has no doubt played its part, as the report records an increase of 11,000 in "City-type" employment from 2006 to 2007.
"Within the UK, the importance of London is core to its international position but other cities such as Edinburgh, Glasgow, Leeds, Manchester, Birmingham and Bristol are important financial centres," the report explained.
Meanwhile, the UK was a leader in international bank lending and borrowing at 21 per cent and 23 per cent respectively.
The London Stock Exchange trading also increased by 13 per cent in 2007 compared to the previous year.
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