Why Do So Many Foreign Finance Companies Open Offices in London?

Although London is not the only choice as far as running a financial company is concerned, it is perhaps one of the most popular places for foreign companies to open a second office in.

One reason many foreign financial organisations are attracted to London is because of the skills level. London is jammed packed with talented workers as far as Fintech jobs and portfolio manager jobs go. Of course, there are other major cities around the UK, but there is still something about the capital city that makes it extra special.

Two Business Hubs in London

Taking a closer look at London job prospects and you will soon notice there are two major financial hubs in London. You have the City of London and then you have Canary Wharf. Both have in the last 10 years very much become centres of excellence as far as the financial and IT industry goes.

Canary Wharf is a financial hub where you can both live and work. That is why this part of London has attracted many foreign finance companies to settle in this area of London. It is close to London City Airport from where you can easily reach other parts of Europe quickly and easily.

IT in Finance

IT in finance is now an integral part of the sector. Without IT, the industry would be more or less ineffective and uncompetitive. Another good reason companies open offices in London. They can easily access from the best of both worlds.

When large corporations and high-flying companies need to employ specialists in their field, all they have to do is to contact a specialist IT recruitment agency to access the talent pool.

Training and Education Geared to Finance

There is another reason why you will find companies still flocking to London. Both training and education are very much geared to the Fintech and specialist IT industry. Colleges and universities in and around the UK have realised this. This is what finance and IT sector thrives and capitalises on.

Many young people are attracted by the promise of good salaries and competitive working conditions in London. It sounds exciting and many of us still would like to have the chance to live and work in the capital.

What is the Future of Finance and IT in London?

Sure, the UK is going through a couple of major employment crises at the moment. Fortunately, it does not seem to be affecting the IT sector and financial industries. A steady stream of graduates is released every year into the marketplace.

If you are thinking about setting up a company in London and looking for staff, you know that you can surely rely on the local specialist recruitment agency sector to find you an employee or two. Just be aware that the London IT business sector is very competitive market.

You may have to review your company's terms and conditions and even offer sign-on bonuses. To become established in London, you may have to have deeper pockets and be an excellent reputable employer as well. Just two of the factors a recruitment agency in London will make a company aware of when you start looking for staff.

READ MORE:

Is the London IT Industry Competitive?

Fintech Recruitment – A Challenge in IT