UK Maintains Reputation as Major Financial Center

A longtime financial services professional, Cecilia Ibru formerly served as the managing director of Oceanic Bank International in Nigeria. Before launching her career, Cecilia Ibru completed her studies in London, one of the world’s financial centers.

Home to one of the world’s largest and most important exchanges, the London Stock Exchange, the United Kingdom has an effective and fair financial regulatory system that attracts financial institutions from around the globe. Furthermore, the United Kingdom’s foreign exchange market generates a global turnover of approximately $2,191 billion daily and hosts bank activity from the United States, Switzerland, Germany, and Japan, among other countries. In fact, the United Kingdom has more than 250 branches and subsidiaries of foreign banks operating within its borders. Moreover, London serves as a center for international insurance companies and carbon offset ventures. Finally, financial services professionals in the country’s capital handle the vast majority, about 85 percent, of European-based hedge fund assets and 18 percent of the global share.

At present, the United Kingdom’s financial sector employs approximately 1 million people and generates 10 percent of the country’s gross domestic product.