South Coast Financial Centre of Excellence
Total Page：16
File Type：pdf, Size：1020Kb
2019 South Coast Financial Centre May of Excellence 21 Withdrawn 2019 May 21 Welcome to the South Coast Welcome to the South Coast of England – this region steeped in maritime history is now one of the UK’s most popular and economicallyWithdrawn prosperous locations, situated just a short distance away from London. gov.uk/ukti 1 — The region’s proximity to London, lower office overheads than the capital and 243,000 highly educated employees equals a thriving financial and business services sector — 243,000 There are 243,000 people Covering the county of Hampshire and employed in the financial and part of neighbouring Dorset, the region has business services sector an overall area of more than 3,880 km2 in the South Coast region* and includes the cities of Southampton, Portsmouth and Winchester and the towns of Bournemouth & Poole, Farnborough and Basingstoke. It boasts an exceptional quality of life, with a climate, environment and infrastructure that helps residents and 22 the local workforce make the most of the 22 FTSE 100 companies have area’s attractions and advantages. headquarters, major corporate centres or back-office operations Offering excellent transport links, the in the South Coast area South Coast is extremely well connected, enjoying easy access to London, the rest of the UK and beyond. The region is within one hour’s drive of a market of 18 million people and has a world-class talent pool and high quality, competitively priced £9.9bn office space, making it the ideal location to establish and grow a business. Such factors have proved an irresistible Financial, insurance and draw toWithdrawn the business community, with 21 businessMay services companies2019 companies of all sizes and specialisms in the South Coast region choosing to have a presence on the South contributed £9.9 billion in economic output to the Coast. Thriving sectors include financial UK economy in 2012** and business services, which have gone from strength to strength in the region in recent years, attracting a growing cluster * ONS 2013 (includes information and of globally successful companies. communication and excludes property) ** ONS 2012 2 South Coast Financial Centre of Excellence Financial hub The South Coast is a leading from the extensive knowledge base on centre of excellence for the offer locally. financial and business Major employers 2019 services sector in the UK. There are over 240,000 people employed in the financial and business services sector in 22 FTSE 100 firms are based in this the South Coast region with financial and area, and 12 of these can be classified insurance companies alone accounting as Financial and Business Services for 39,500**. companies. 2,020 financial and insurance May companies have an established presence Industry strengths in the region including headquarters, major corporate centres or back-office 21The volume of the financial and business operations of major firms and collectively, services sector on the South Coast means they contributed £3.4 billion to the that sub-sectors are substantial in their economy in terms of GVA*. own right. For example, Hampshire has significant strengths in insurance, The presence of these companies creates employing 24 percent of South East major opportunities for other financial and England’s insurance industry, the largest business services enterprises looking to in Europe. Business and management relocate to the South Coast. For example, consultancy, legal services and accounting there is a ready pool of well-qualified and tax professions are also enjoying labour already working in these firms, as growth and represent 15 percent, well as the opportunity for new recruits. 21 percent and 15 percent of employment in There is a wealth of experience amongst this sector in the South East respectively. existing businesses of getting the most Withdrawn * ONS 2014 ** ONS 2013 — There is a wealth of experience 21% amongst existing businesses 21 percent of employees in the of getting the most from the South East work in legal services extensive local knowledge base — gov.uk/ukti 3 Key locations Basingstoke The South Coast has a number of key Basingstoke is home to numerous locations where there are clusters of household business names from the financial and business services companies. financial services sector and these, With access to a catchment area of along with many other equally world-class 18 million people there is a constant companies, combine to invest in the source of readily accessible new talent town’s success. to the region. Companies include: – AXA Wealth 2019 – Baker Tilly – Barclays 18m – Langdowns DFK There is access to a – Sun Life Financial of Canada catchment of 18 million people in the region May 21 Withdrawn 4 South Coast Financial Centre of Excellence Bournemouth & Poole a new airport development site which has seen £50 million of private-sector Bournemouth & Poole generates £1.6 billion investment by Manchester Airport Group. a year in Gross Value Added from financial and insurance activities, with 12,700 people, Companies include: 1 out of 12, employed in this sector*. – Abbey Life – Ageas Retail Several global business heads – dealing with – Arthur J Gallagher everything from securities processing to – Bank of New York Mellon fund trustee management – are now based – Barclays on the Dorset coast. Bournemouth is at the – J.P. Morgan core of a ‘near-shoring’ trend amongst – LV = Liverpool Victoria financial and professional services firms: – Nationwide the movement of jobs either out of London – Pru Health or from overseas back to the UK. – Teachers Assurance Bournemouth also offers an international airport which is a key gateway to southern England, serving 689,000 passengers and 60 destinations annually. Planning permission has recently been secured for * ONS 2012/13 CASE STUDY Global centre Bournemouth, most recently committing £28.6 million to install state-of-the-art Financial giant J.P. Morgan, America’s communication technology. largest bank, has a major presence on the South Coast. Established 25 years Chairman and CEO Jamie Dimon says: ago, its office in Bournemouth is a “Bournemouth offers access to high- centre for technology and operational quality talent and to facilities that can processingWithdrawn with worldwide reach, 21support ourMay business, not 2019 just in employing more than 4,000 people. London, but around the world. We are proud to be an active member of the It is a key location in the company’s local community and to be the largest global franchise, supporting activity in private-sector employer in Dorset.” over 90 markets across more than 40 countries. J.P. Morgan has continuously jpmorgan.com invested in its business and people in gov.uk/ukti 5 CASE STUDY Mutual benefits financial services businesses based locally and one of the major employers LV = (Liverpool Victoria), a leading here. We’re committed to developing financial mutual offering a range of and recruiting talent and continue insurance, investment and retirement to forge relationships with local products, employs 2,400 people at its universities and colleges which head office in Bournemouth. They are are essential to our success. We have the UK’s largest friendly society, with a wide range of roles within our more than 5.5 million members Bournemouth office, from2019 customer and customers. services through to IT, HR, finance and HR Director Julia Tyson says: “Being in digital marketing, to name but a few, Bournemouth gives us access to the which offers great development wide range of talented people based opportunities for our people.” here in the town and it’s great to be part lv.com May of the unique community spirit. We’re proud to be part of the growing hub of 21 Withdrawn 6 South Coast Financial Centre of Excellence 2019 May 21 Farnborough Portsmouth Only 34 minutes from London by train, Portsmouth is a vibrant waterfront city. Farnborough is home to the most modern Over £1 billion is being invested and and efficient business aviation airport committed to infrastructure projects and in Europe. commercial and residential developments. They include the Lakeside North Harbour With high-quality business and technology business campus, home to some major parks within a short taxi ride from the financial and business services firms. airport, Farnborough is fast becoming the location of choice for many financial and Companies include: business services firms. – Capita Withdrawn – Handelsbanken Companies include: – Aon – Menzies – Zurich gov.uk/ukti 7 Southampton CASE STUDY Home to the UK’s second-largest container terminal and four state-of-the-art cruise terminals, Southampton is a major hub for both business and leisure. With Southampton Airport serving over 50 European destinations and a master plan for the city centre creating significant, high-quality office space in the near future, Southampton is one of the South Coast’s A sound investment 2019 premier business locations. Southampton is the UK headquarters Companies include: of Old Mutual Wealth, part of – Ageas Old Mutual Plc, one of the world’s – Aviva leadingMay independent providers of – BDO solutions for long-term savings – Deloitte and investments. – Ernst & Young – Foresters Friendly Society 21Employing more than 1,500 staff and – Grant Thornton managing £35.5 billion on behalf of – HSBC its customers, the firm’s South Coast – KPMG office has proved a highly successful – Old Mutual Wealth business hub, helping Old Mutual – PwC Wealth become one of the fastest- growing financial services