A recent report by the City of London Corporation has confirmed London as the top global destination for cash flowing into the financial services sector.
It may be tops for foreign investment projects but the global financial services sector has hot spots all over the world, varying in size, output and clout.
New York
The Big Apple is synonymous with the world of finance thanks to plenty of literary and cinematic representations, including The Wolf of Wall Street.
Despite such dubious depictions, The New York Stock Exchange in downtown Manhattan is one of the most influential in the world.
Around 10% of the population of the city is employed in financial services in some form. Their average annual salary is a juicy $375,000. That’s one apple we wouldn’t mind a bite out of.
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Hong Kong
Financial services accounts for just under 20% of Hong Kong’s GDP and employs over a quarter of a million people in various different guises.
In particular, the securities sector is thriving, although finance experts could expect to prosper in other areas such as banking, fund management, insurance and private equity. Total foreign investment last year reached £3.37 billion.
Frankfurt
Home of the European Central Bank and Deutsche Bank, Frankfurt has a reputation to equal that of London when it comes to financial services, with banking and insurance particularly strong.
The Wertpapierbörse, the Frankfurt Stock Exchange, has a total turnover of around 5.2 trillion euros annually.
Edinburgh
Yes, our very own capital city is the UK’s largest financial services centre after London, with in excess of 35,000 people working in financial services and insurance.
It’s also known as a major European centre for asset management and asset servicing and is fast growing into one of the world’s top centres for FinTech.
Luxembourg
Small but mighty, Luxembourg is a major financial services hub in Europe. More than 140 international banks have an office here.
It excels in banking, insurance and investment funds – the investment fund industry is thought to be the largest in Europe and second largest in the world, behind the US.
Like Edinburgh, it’s also an emerging location for the implementation of FinTech.
If you’re in the market for a high-flying new role in the world of Financial Services, and Investment check out the latest vacancies on s1jobs.