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Financial services firms show elevated confidence in UK

UK flag stock screenUp to 90% of global financial services firms in a survey said they planned to expand operations in the UK in 2022, according to an EY UK attractiveness report.

The spike revealed the highest level of investor confidence seen in the region since the consultant began its attractiveness analysis.

Financial services firm are confident about planned investment across the UK and 41% of the firms, who were surveyed in November 2021, said that the pandemic had led them to increase investment in the region.

As many as 8% revealed they were planning a substantial increase in investment. This was markedly higher than in the spring of last year, when just 6% of surveyed firms said they were planning on increasing their level of activity in the UK.

“It’s encouraging that such a high proportion of global financial services firms are currently looking to grow their business in the UK. This is testament to the stability and resilience of the mature UK market which continues to ably withstand the material challenges and uncertainty of both the pandemic and Brexit,” said Anna Anthony, UK financial services managing partner at EY.

“As we look to the future of financial services, it’s also positive that investors see the UK as the right place for growth in ESG, which, post COP26, is a major and increasing focus for boards.”

Up to 90% of investors believe the UK will maintain the same level of attractiveness over the next three years. A large majority of investors also said the UK offers the right kind of destination for ESG investing. More than half the firm’s surveyed revealed ESG was a top priority for their investment strategy.

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