UK remains the top hub for European finance

The UK is still Europe’s ‘destination of choice’ for investment in financial services – but has lost ground to France. 

Last year Britain attracted investment in 56 projects in the financial sector, according to a survey by EY – the most in Europe. But this was still 43 fewer projects than in 2019, with the lead over France also narrowing. 

‘Destination of choice’: Last year Britain attracted investment in 56 projects in the financial sector, according to a survey by EY – the most in Europe

Investment poured into 49 French projects, EY said, 11 more than the previous year. 

However, out of all European countries, investors were most positive towards the UK’s coronavirus recovery plans – setting it up well to bounce back. Germany came second and France and Switzerland joint third. 

Anna Anthony, a partner at EY, said: ‘The UK has consistently been the number one location for international financial services investment. While its lead may have narrowed in 2020 – most likely only short term in response to pandemic-related business disruption and Brexit – the UK is looking to a strong future.

‘Investor sentiment is encouraging and shows the UK financial services market is expected to remain Europe’s destination of choice.