London leads the way in drawing talent to financial services
Figures released yesterday from the City of London Corporation show that 89% of global institutional investors view London as having the best pool of talent for financial services in Europe.
The figures, which look at London’s competitiveness on the international stage, show London as the best European city for businesses according to 58% of institutional investors. London is also the clear leader of all the European cities, and is almost three times more popular than the second city on the list, Dublin, at 22%.
“People and talent are more crucial than ever to business operations, decisions and global competitiveness,” said Catherine McGuinness, policy chairman at the City of London Corporation.
“As one of the most sophisticated financial clusters in the world, London’s creative energy continues to shine through.”
The findings back up a separate survey of 2,568 corporate decision makers across France, Germany, Spain and the UK.
When asked which European city has the best pool of talent, 20% of the respondents chose London, with 13% going for Paris, and 8% choosing Frankfurt.
Similarly, when asked what the best city is for businesses, 21% opted for London, 13% for Paris and 7% for Frankfurt.
London’s close proximity to innovative and creative clients and tech hubs was cited as one of the main reasons for its attractiveness.
Businesses also highlighted the city’s expertise across financial services, transport infrastructure, cultural offering, and access to world-leading specialists, services and clients.
This comes after a report from the Z/Yen Group named London the top financial centre in the world, despite fears that the UK’s exit from the EU will make it less attractive.
New York and Hong Kong completed the top three cities, which were assessed for their business environment, financial sector development, infrastructure, human capital and reputation.
“It is clear that London continues to lead the way as an international business centre and location for companies seeking access to its unrivalled talent and amenities,” McGuinness added.