Leaving London: The next generation of finance companies
3rd August 2018
London has long been known as the financial capital of the world but, with the cost of living in the capital pricing many young professionals out of the city, it seems that many leading organisations have realised the inefficiency of such an exclusive market and decided to do the same. We take a look at where the next generation of finance companies are growing.
Niche specialisms across the UK
Outside of London, the South East is the largest region for financial services employment, although a wider pool of talent across the UK means that this is slowly decentralising. Whereas once upon a time London had traditionally been the only viable place to have a progressing career in finance, job markets have evolved over the years. Some areas have become known for niche specialisms – take Brighton, for example, known as a creative hub for artists and marketing agencies alike, and Salford’s MediaCity, which saw the BBC moving of its work to and creating a network effect that has impacted other industries.
Is Birmingham the new London?
It used to be the case that graduates and young professionals would have to chase their dream employer to the big city for a chance of success, but now many organisations are moving themselves out of London in order to access a wider pool of talent.
A report just last month shows that many of the people leaving London are attracted to Birmingham, which has gone under much redevelopment in recent years and evolved into a cultural hub, as well as a centre of business. With big names such as Deutsche Bank, HSBC, PwC and even HM Revenue & Customs expanding operations across the city, and the HS2 project set to create fast links to London, it seems that Birmingham is the city to watch over the next few years.
Leading firms across Sussex and Surrey
At Grafton Banks Finance, we are proud of the relationships we have built with our clients over the last 10 years, which is why we call Sussex and Surrey our home. With offices in the city of Brighton and Hove and town of Reigate, we work with a wide variety of leading firms to place candidates in industries ranging from financial services and legal firms to commerce and industry and the public sector.
If you’ve been thinking about moving to a new role in finance, contact us today to find out about opportunities within the Sussex and Surrey areas.