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The Midlands Engine | Midlands Financial Centre of Excellence 1
The Midlands Engine a Financial Centre of Excellence
The Midlands Engine | Midlands Financial Centre of Excellence2
The Midlands Engine | Midlands Financial Centre of Excellence 3
Welcome to the Midlands 4
Driving Economic Growth 6
Key Company Locations 8
Growth Opportunites 9
Industry Strengths 10 Insurance 10 Banking 11 BusinessProcessingandFinancialServices 11 FinTechOpportunities 12
Talent Pool 13
University Expertise 16
Key Locations 25
Lifestyle 37
Global connections 41
The Midlands Engine | Midlands Financial Centre of Excellence4
Welcome to the MidlandsThe Midlands is one of the most dynamic areas in the UK. Located at the heart of a connected transport network, it has close proximity to London and access to 75% of the UK within 2 hours.Hometoover10millionpeopleandaround430,0001businessenterprises,theregionincludesthecitiesofBirminghamandNottinghamalongsideCoventry,Derby,Hereford,Leicester,Lincoln,Stoke-on-Trent,WolverhamptonandWorcester.
Ourlocaleconomyisworthmorethan£200billion,generatingnearly13%oftheUK’sGrossValueAdded(GVA),andexperiencinggrowthof21%overthelastfiveyears.1Source:ONS2018
The Midlands Engine | Midlands Financial Centre of Excellence 5
We’rehometoover100,000businessesinBPFS,employing770,000.Weexport£55bnworthofgoodsto178countries,growingatarateinexcessofthenationalrate.TheMidlandsisindeedanengineofgrowthattheheartoftheUK.
ThehomeofShakespeare,RobinHood,JRRTolkienandSirIsaacNewtonistodayatthecentreofplansforanewhighspeedrailnetworkandaninnovationhubforadvancedmanufacturing,automotive,lifesciences,digitaltechnologiesandrailtechnologies.
BirminghamAirporthandlesover13millionpassengersacross140routesannually,whileEastMidlandsAirportistheUK’ssecondlargestcargohandler.Intotal,45%ofBritishrailfreightand33%ofheavyroadfreightgoesto,fromorthroughtheMidlands.
TheregionhasthefastestimprovingrailnetworkinEuropeandby2033willbethehubofthecountry’snewHS2highspeedrailnetwork–expandingcapacityandconnectingtoLondoninlessthan50minutes.
Theregion’s20universitiessupportaworld-classscienceandinnovationbasemakingtheregionaglobalcentreofexcellenceinareassuchasadvancedmanufacturing,engineering,financialservices,lowcarbonandautonomoustechnologies,healthcare,lifesciencesandagri-foodanddrink.
Ahighqualityoflifealsoattractspeopletolive,work,studyandinvesthere,withtheMidlandsregionblessedwithfiveAreasofOutstandingNaturalBeauty,60historichouses,twoUNESCOWorldHeritageSitesandathrivingcultureofsport,musicandthearts.
The Midlands Engine | Midlands Financial Centre of Excellence6
Driving Economic GrowthThe Midlands region is located at the very centre of the UK, anchored by some of the most historical and commercially important areas, including Birmingham, Coventry, Leicester, Nottingham and Wolverhampton.WithineasyreachofLondonandmajorUKcities,theMidlandsishometoWorld-classcompanyheadquarters,innovativeentrepreneursandhigh-qualityuniversitieswithaglobalreach.
TheareabenefitsfromoneoftheyoungestpopulationsinEuropeandisadynamic,thrivingandbusiness-focusedregion.
Withapopulationrepresenting115%oftheUKtotal,andahighly-skilledtalentpool,theMidlandshasthesizeandscaletoservicethelargestbusinessfunctions. 1Source:ONS,2017Mid-YearPopulationEstimates.
TheareabenefitsfromoneoftheyoungestpopulationsinEuropeandisdynamic,
thrivingandbusiness-focused
The Midlands Engine | Midlands Financial Centre of Excellence 7
WithsomeofthelowestprimerentalcostsintheUK,theMidlandsofferscompaniesexcellentopportunitiesforhead-officeandoperationalsolutions.TheregionofferssubstantialgradeAofficespaceatupto60%lowercost1thanLondon,yetitislessthananhourfromthecapital.Whilstsalariesarelowerthanthecapital,residentialpropertiesandlifestylearehighlyaffordable,providingresidentswiththehighestregionalqualityoflifewithintheUK.2
TheestablishmentofcompanyheadquartersandmajorlandmarkinvestmentsfromhighprofilecompaniessuchasDeutscheBank,HSBC,Aviva,JaguarLandRoverFinanceandExperianhavebeenintegraltotheregion’sunprecedentedperiodoftransformation,growthanddevelopment.
Abusinessenvironmentinwhichcompaniescanthrive,theMidlandshasrecordlevelsofinfrastructureinvestment,increasinginternationalrecognition,arichtalentpoolandsomeofthecountry’sleadinguniversities.TherehasneverbeenabettertimetoinvestandgrowintheMidlands.
60%Officespaceatupto60%
lowercostthanLondon
£200bn+MidlandsAnnual
GrossValueAdded3
770,000EmployeesintheFinancial,Professionaland
BusinessServicesSector4
FinanceandBusinessServicescompaniescontribute£31billionto
theMidlandseconomy5
£28bn
1Source:ColliersOfficeRentalMaps,20182Source:Mercerstudy,March2015.3Source:ONS,BRES20174Source:ONS,BRES20175Source:ONS,2016
The Midlands Engine | Midlands Financial Centre of Excellence8
TheMidlandsemploys940,000peopleintheFinance,ProfessionalandBusinessservicessector.AnimpressivepresenceofFTSE100andmajorfinancialservices
Key Company Locationscompanieshighlightsthedistinctopportunitiesthattheregionoffersforstartingandgrowingabusiness.1
Midlands – Key Employers
Wolverhampton
Nottingham
Leicester
M6
M6
M1
A1(M)
M1
M5
M54
M50 M40
M42
M42M46Birmingham
Northampton
Milton Keynes
1, 2, 3, 4, 5, 6, 7, 8, 10, 12, 16, 17, 19, 23, 25, 27, 29, 31, 32, 33, 34, 35, 36, 39, 41, 42, 43, 45, 46, 47, 48, 49, 50, 51, 52, 54, 58, 59, 60, 61
9, 14, 61
Coventry
44
11, 18, 20, 21, 26, 37, 40, 44, 55, 56
13, 24, 28, 36, 53
10
5, 9, 22, 27, 37
Manchester Airport
Heathrow, Gatwick, Stansted and Southend Airports
East Midlands Airport
Luton Airport
1. AFHFinancialGroup
2. AlRayanBank
3. Allianz
4. AMTrustEurope
5. Aon
6. AxaInsurance
7. Barclays
8. Beazley
9. BerkeleyInsuranceGroup
10. BNPParibas
11. CapitalOne
12. CertegyCardServices
13. CharterCourtFinancialServices
14. CoventryBuildingSociety
15. Defaqto
16. DeutscheBank
17. DirectLine
18. Domestic&General
19. Droplet
20. Experian
21. FirstResponseFinanceLimited
22. GlobalPaymentsUK
23. Handelsbanken
24. HastingsInsurance
25. HSBC
26. IkanoBankFinancialServices
27. Investec
28. KGJInsurance
29. Legal&General
30. LexisNexis
31. LloydsBankingGroup
32. LombardRiskManagement
33. MansfieldBuildingSociety
34. Markel
35. Marsh
36. Masterlease
37. MattioliWoods
38. MHR
39. Nationwide
40. NOWPensions
41. Obillex
42. OldMutual
43. ParagonGroup
44. PendragonFinancial&InsuranceServices
45. PhoenixGroup
46. QuilterCheviot
47. Royal&Sun
48. RoyalBankofScotland
49. Santander
50. S&Uplc
51. SecureTrustBank
52. StandardLife
53. StateBankofIndia
54. StoreFinancial
55. TDXGroup
56. TheNottinghamBuildingSociety
57. TheShareCentre
58. Thecitysecret
59. UnityTrustBank
60. WesleyanAssurance
61. ZurichInsurance
The Midlands Engine | Midlands Financial Centre of Excellence 9
Growth OpportunitiesInvestment in the Financial, Business and related Professional services sector has grown as a result of the Midlands’ ability to meet high-quality locational requirements for headquarters, including operational functions that complement and strengthen an organisation’s business model.TheMidlands’valueinthissectorisbasedonitsrichcredentialsacrossallfunctionsandoperations.Thecriticalmassoftalentandresources,unparalleledphysicalinfrastructureandconnectivity,includingupto50%1lowergradeBofficerentalcoststhanthecapital,hasenabledtheregiontoemergeasaleadingdestinationforFinancialandProfessionalservices.
TheMidlandsregionprovidesaviablesolutionforfirmsseekingtorelocatesignificantareasoftheirbusinessthatcurrentlyresideinhighercostareas,aswellasthosewishingtoconsolidatedepartmentsspreadacrossmultiplelocations.Theprofessionalecosystemisconstantlyevolving,whichrepresentsanunprecedentedopportunityforfuturegrowth.
TheclusterofsmallbusinessesinthissectoristhebackboneoftheMidlandsoffer,notonlyhelpingtocreateandsupportaperfectenvironmentinwhichlargerfirmscanoperate,butalsoenablingcountlessopportunitiesforstart-upsandSMEsintheregion,creatingopportunitiesforfinancialservicesgrowth.
1Source:Colliersofficerentsmap20182Source:ONS,BusinessCount2018
5,155Companies,carryoutauxilliary
activitiesthatsupporttheMidlands’Financialand
Insuranceservicessectors2
Theprofessionalecosystemisconstantlyevolving,whichrepresents
anunprecedentedopportunityforfuturegrowth
The Midlands Engine | Midlands Financial Centre of Excellence10
Industry Strengths
Insurance
ThequalityandbreadthofinsuranceskillsintheMidlandscanbecreditedtotheregion’srichtapestryofspecialistandnicheoperations.TheregionishometomajorinsuranceoperationssuchasAllianz,Aon,Mercer,MarshandZurich.
Withahistoryinmajormanufacturing,theMidlandshasawell-developedlocalinsurancemarketthathasastrongfocusoncommercialinsurancepackages(professionalindemnity,engineeringinsuranceandotherspecialisms),butitalsooffersawiderangeofproductstoothermarkets.
Two-thirds of people working in financial and related professional services across the UK do so outside of Greater London1
1Source:TheCityUK–KeyFactsAboutUKFinancialandRelatedProfessionalServices2016
10,000Birminghamisoneofonlyfivecitiesinthe
UKwithover10,000peopleemployedintheBankingsector
The Midlands Engine | Midlands Financial Centre of Excellence 11
Banking
BirminghamiscurrentlyoneofonlyfourcitiesintheUKwithmorethan10,000peopleemployedinthebankingsector–itcurrentlyhasc.11,000staff.
HSBCUKRing-fencedbankingheadofficeopenedinBirminghamin2018andwilleventuallyaccommodatenearly2,000staff,including400rolesrelocatedfromLondon.
Barclays,RBS,DeutscheBankandLloydsBankingGroupallemploymorethan1,000staffeachinthecity.
Barclaysrecentlyannouncedthattheyexpectthescaleoftheiroperationsinthecitytogrowby30%inthenextfewyears,astheytakeadvantageofthecost-effectiveenvironmentthatBirminghamoffersrelativetoLondonandseektocapitaliseontherapideconomicgrowthexpectedintheWestMidlands.
Business Processing and Financial Services
TheMidlandsEngineisoneoftheUK’sfastestgrowingregionallocationsforBusiness,ProfessionalandFinancialServices(BPFS).Withapopulationof10mpeopleandaneconomytotalling£217bn,theregionisaleadingcentreforBPFSoutsideofLondon.Thisincludesbutisnotlimitedtofrontofficefunctionsforbanks,insurance,legalandaccountancycompanies.
Birmingham lies at the heart of the West Midlands
RegardedasamajorengineofUKeconomicgrowth,BirminghamhasmoreFinancial&ProfessionalServices(FPS)employeesthananyotherregionalcity.
— Birmingham50,200
— Leeds49,300
— Edinburgh46,700
— Manchester45,100
— Glasgow38,200
Thecityisalsohometoover110,000employeesacrossmorethan11,500firmswithinthewiderBPFSsector,makingittheUK’slargestregionalcityforprofessionalservices.
• Majorrecentinvestmentsintheregioninclude:
— HSBC
— DeutscheBank
— Marsh&McLennan
— LombardRisk1Source:ONSBRES2018
The Midlands Engine | Midlands Financial Centre of Excellence12
FinTech opportunities
Theregion’simpressivefinancialsupplychain,combinedwithitspositionasthelargestregionaltechhub,hasfosteredrapidgrowthwithinitsFinTechsector.Withover65,000highlyqualifiedemployeesinover12,400businesses,theWestMidlandsCombinedAuthorityisnowhometothelargestregionalFinTechclusterintheUK(ONS).
Keytotheregion’ssuccessinFinTech–andthemainattractionforcompaniesmovingthere–isthetalentonoffer.Birminghamishometomoresoftwaredevelopers,programmersandsoftwarearchitectsthananyotherregionalcityintheUK(StackOverflow),andaccordingtoMonsterresearchisthebestplaceintheUKfordigitaljobs.TheWestMidlands’12universitiescontain50tech-relatedcentresofexcellenceanddeliverover66,000graduateseveryyear–16,000withFinTechrelatedqualifications.
• TheregionhasseenmajorinvestmentsfromLombardRiskandEMLPayments,togetherwithlocalfastgrowthFinTech’s(ParentPay;PMConnect)
• BirminghamoffersaverydistincttechnologyecosystemwithlargemultinationalcompanieslikeSCCandoneoftheUK’sleadingbusinesssoftwaresolutionscompanies–Advanced.
• TherecentGovernmentannouncementthattheWestMidlandshasbeenchosenasthehomeoftheUK’s5Gtechnology–backedby£150millionofinvestment–isagame-changerfortheregion’stechnologysupplychain.
TheWestMidlands’unparalleledstrategiclocationattheheartoftheUK’sroadandrailnetwork–withHighSpeedRailbringingLondonlessthan38minutesawayby2026–givestheregionauniquereachintermsofmarkets,businesses,population,talentandacademia.
Takentogether,theWestMidlands’ssectoralstrengths,itslocationandexceptionaltalentmakeitaprimechoiceoflocationforfast-growingFinTechcompanies.
The Midlands Engine | Midlands Financial Centre of Excellence 13
SuccessfulbusinessesintheFinancialServicessectorrecognisetheimportanceofrecruitingahighlyskilledworkforcetodrivegrowthandcompetitiveadvantage.
7MidlandsUniversitiesarerankedinthetop25oftheGuardianUniversityLeaguetable2019intheUK,with3,Birmingham,NottinghamandWarwickfeaturinginthetop100globally,accordingtoQSUniversityRankings2019.
Establishing a business base in the Midlands provides access to a diverse mix of skills and a natural talent pool.
Talent Pool
10m+ People live in the Midlands
Representing15.4%oftheUKpopulation
The Midlands Engine | Midlands Financial Centre of Excellence14
Research Matters
Asarichsourceofresearchandinnovation,universitiesacrosstheMidlandsaresupportingtheFinancialServicessectorbycontributingtoregionalgrowth,jobsandinfrastructureandrespondingtothechangingshapeandneedsofthesector.
Warwick,NottinghamandtheUniversityofBirminghamaremembersoftheprestigiousRussellGroupofUniversities,whichrepresents24leadingUKuniversitiesthatarecommittedtomaintainingtheverybestresearch,andanoutstandingteachingandlearningexperience.
Developing Tomorrows Talent
UniversitiesintheMidlandshaveabroadportfolioofcoursesthatareapplicabletotheFinancialServicessector.Designedtoenrichthestudentexperience,theyareuncompromisinginmeetingtheindustry’srequirementsforrecruitingtalentedindividuals.
20UniversitiesintheMidlands,
7inUKtop25
68%
Withunrivalledlinkstobusinessandthepublicsector,68%oftheUK’s
worldleadingresearchtookplaceintheRussellGroupofUniversitiesin20141
362,720
Students(15%oftheUK’sstudentpopulation)2
1.95mPeopleintheMidlandsareeducatedto
degreelevelorabove3
1Source:RussellGrouphttp://russellgroup.ac.uk/for-business/2Source:HigherEducationStatisticsAgency,2017/183Source:ONSAnnualPopulationSurvey,2017
The Midlands Engine | Midlands Financial Centre of Excellence 15
Developing Today’s Workforce
Globalisation, regulation, cost and consumer demand are driving change in the Financial Services sector.WorkingcloselywiththeFinancialServicessectorandacceleratingthelearninganddevelopmentofstaffinanenvironmentofconstantchangerequiresauniqueblendofexecutivedevelopmentprogrammes.Midlandsuniversitiesdeliverarangeofbespokecourses,professionalqualificationsandshortcoursestosupportthedevelopmentoforganisationalcapability.
Industry Engagement
Collaborationbetweeneducationandindustryhasneverbeenmoreimportant.TheMidlandsunderstandsthebroaderrequirementtodevelopadiverseandcapableworkforceatalllevels,tosupportFinancialServicesfirmstocapitaliseonopportunitiesforgrowth.Thereisastrongcommitmentfromthepublicsector,industry,andfromfurtherandhighereducationinstitutionstoinspireyoungpeopleandtoraiseawarenessofsectoropportunities,creatingtherightenvironmentfortheMidlands’workforceofthefuturetomaketherighteducationalandcareerchoices.
TheMidlandsiscommittedtoenrichingtheexperienceofyoungpeopletopreparethemforacareerintheFinancialServicessector,throughInternships,apprenticeships,mockassessmentcentres,tailoredindustry-ledprogrammesfor14-18yearolds,comprehensivecareerssupportandindustryengagement.
Andrew Dale,MBAGlobalBanking&FinanceGraduate,2010andDirectoratHSBCsaid:
“There is an extremely supportive and positive environment for postgraduate students at the University of Birmingham Business School; the careers service offered much welcomed advice and the academics, as well as the administration team, were ready to help me achieve my goals. I had a strong interest in banking and wanted to move into the banking sector. I was able to work alongside academics specialising in this field, which was a wonderful opportunity for me.”
International Links
In2017/18therewereover450,000internationalstudentsatUKuniversities.
Stronguniversityalumninetworkstapintointernationaltalentandresearchcollaborations.
The Midlands Engine | Midlands Financial Centre of Excellence16
University ExpertiseUniversity of Birmingham Business School
BirminghamBusinessSchoolisoneofthetop1%ofinternationalbusinessschools.Ithasprovidedwelltrained,relevantandbusinessreadygraduatesfortheFinancialServicessectorformorethan100years.TheSchoolhasaspecificfocusonpeopleinbusinessandtherolebusinessplaysinsociety.ItisthelargestproviderofpostgraduateprogrammesacrosstheRussellGroup.
Asaresearch-ledbusinessschool,studentshaveaccesstothelatesttrends,dataandknowledgewithintheglobalbankingandfinanceindustryandtheopportunityto
engagewithindustryprofessionalsfromrenownedfinancialserviceshouses,includingBankofAmerica,MerrillLynch,HSBC,Barclays,Coutts,RBS/NatwestandLloyds.
TheSchoolhaslong-standingrelationshipswithkeyinstitutionscentraltotheconductofeconomicpolicyandoversightofthefinancialsectorintheUK,includingthe
2,130Graduates2015/16inbusinessandfinance
programmes
The Midlands Engine | Midlands Financial Centre of Excellence 17
BankofEngland,HMTreasuryandtheBritishVentureCapitalAssociation.Itregularlyundertakesresearchforretailandcentralbanks.
TheUniversitywasnamedUniversityoftheYearforGraduateEmploymentinTheTimesandTheSundayTimesGoodUniversityGuide2015-16.Ithasover30,000students,including8,000internationalstudentsfromover170countries.
TheCharteredInstituteforSecurities&Investment(CISI)hasawardedBirmingham’sDepartmentsofAccountingandFinancethetitleof“CentreforExcellenceinFinanceTeaching.”ItistheonlyMidlandsuniversitywherestudentscanearnaCISIDiplomainInvestorAdvice.Upongraduation,studentshavethereforeachievedFCAapprovedpersonstatus.Itsgraduatesalsoachieveaccountancy,corporatetreasurerandothermanagementprofessionalmembershipexemptions.
TheUniversityhasbrokennewgroundbysettingupthefirstsecondaryUniversityTrainingSchoolfor11-18yearolds.Fromhere,largefinancialservicescompaniessuchasKMPGandDeutscheBankcontributetoitsemployabilityenrichmentprogramme.
33,830TheUniversityhas21,495undergraduates
andafurther12,335postgraduatestudents
Aston Business School
AstonisamongEurope’slargestbusinessschools,withapproximately3,000students.Ithasbeenconductingpioneeringresearchintomodernbusinessandmanagementissuesforover60years,makingitoneofthelongestestablished,research-basedbusinessschoolsintheUK.Astonisoneofjust1%ofbusinessschoolsintheworldtoholdAACSB,EQUISandAMBAaccreditations,andoneofthreeintheUKtoreceivetheSmallBusinessCharterAward.Theuniversityisintheworld’stop85andtheUK’stop10forBusinessandEconomicsaccordingtoTimesHigherEducation’s2018WorldRankings.AstonwasawardedGoldinthe2017TeachingExcellenceFramework.
Astonaimstodevelopindividualstoperformbetterwithinenterprisesandtheprofessions,andtoensurethattheopportunitiesitcreatesaremadeavailabletoallmembersofsociety.Theuniversityadvisespolicy-makersonwaystoimprovesocietyandtheeconomy.StudentsbenefitfromteachingandresearchrelatingtoAccounting,Finance,Entrepreneurship,InformationManagement,andOrganisationalPsychology,taughtbyacademicswithrealcommercialexperience.
AlargeproportionofAstonstudentsundertakeaplacementyearduringtheirstudies,meaningmostofitsgraduatesentertheworkplacewithayearofindustryexperience.AstonalsooffersawiderangeofMBAprogrammes,whichareconsistentlyrecognisedassomeofthebestintheworldbyQS,CEOMagazine,TheEconomist,andothers.
The Midlands Engine | Midlands Financial Centre of Excellence18
Warwick Business School, University of Warwick
Inunder50years,WarwickBusinessSchoolhasbecomeoneofthemostprestigiousbusinessschoolsinEurope,providingworld-classprogrammesforambitiouspeople.WarwickconsistentlyfeaturesinthetoptenUKuniversityleaguetablesandwasdeclaredUniversityoftheYearin2015byTheTimesandSundayTimesnewspapers.
Warwick’sacademicconnectionsthroughinternationalnetworksandstrongrelationshipswithmulti-nationalcorporationsservetostrengthenitsexpertiseinaninternationalcontext.
Top 10 WarwickconsistentlyfeaturesinthetoptenUKuniversityleaguetablesandwas
declaredUniversityoftheYearin2015byTheTimesandSundayTimesnewspapers
The Midlands Engine | Midlands Financial Centre of Excellence 19
Warwick’salignmentwithIndustry,enrichesthelearningexperienceofstudents,supportingthemtopracticallyapplytheoreticalmodelsinabusinessenvironment.
WarwickpreparesitsstudentsforacareerintheFinancialServicessectorbyworkingwithleadingInstitutions,includingMorganStanleyandBarclayswhodeliverindustryfocusedcasechallengeworkshops.RegularguestlecturesaredeliveredbyprominentcompaniessuchasUBSandDeloitte,enablingstudentstoapplytheirlearningthroughthestudyofreallifebusinesssituations.
InstructusMarketsdeliverfinancialandcommercialawarenessworkshopstostudents,includingtheFintractechonlinesalestradingwhichgivesstudentsaninsightandexperienceintoinvestmentbankingandhedgefunds.
Warwicktakesamulti-facetedapproachtotalentacquisitionandretentionandprovidesbespokesolutionsdevelopedforitsfinancialservicesclients.TheUniversitydeliversasuiteofqualificationsinCentralBankingandRegulationaspartofitspartnershipwiththeBankofEngland.
Warwickisgloballyconnectedwithover8,455non-UKstudents
8,455
CASE STUDY
Warwick Business School
“WarwickBusinessSchool(WBS)offersanexcellentacademiclearningenvironment,anoutstandingreputationinthefieldsofaccountingandfinance,andaninternationalstudentbase.
AnyaccountingandfinancecoursewillgiveyouaninsightintobothaspectsbutwhatsetsWBSapartisthehands-onexperiencegained.Eachyear,therewasamodulewithafocusonteamworkandpresentationskills,inwhichweweredividedintorandomgroupsandhadtoworkwithpeoplewedidn’tknow–justlikeinarealbusinesscontext.Butbecausetherewasarealfeelingofbelonginghere,competitionwasdefinedbytryingtoachievethebestasagroupratherthanindividualsbattlingeachother.
WBSequippedmewitheverythingIneededforacareerinbanking,accounting,consultancyormanagementandIcanseemycareergoinganywhereIchoose.”
Axel Stelk,AssuranceAssociate,PwC
Image:michaeljung
The Midlands Engine | Midlands Financial Centre of Excellence20
University of Leicester School of Business
TheUniversityofLeicesterSchoolofBusiness(ULSB)isaglobalacademyforleaders,innovatorsandchange-makers.Buildingonover90yearsofdeliveringbusinesseducation,itisinternationallyrenownedforcoursesinaccountingandfinance,management,marketingandeconomics.Itisranked14thintheUKforresearchpower,reflectingthepioneeringworkitconductsinpartnershipwithleaders,managersandorganisationstopromoteresponsiblebusinesspractice.
ULSBisamemberoftheCharteredAssociationofBusinessSchools(CABS)andholdsaprestigiousSmallBusinessCharterAwardforitsroleinhelpingtokickstartBritishenterprise.
Leicesteralsohas12Bloombergterminalswhichdevelopstudents’businessrelevantskillsandenablesthemtoexaminehowtradersworkandprovidesaccesstofinancialnewsandinformation,includingreal-timestockquotes.
• The Association of Graduate Recruiters have recognised the University of Leicester as the best institution in the UK with the best initiative to prepare students for the world of work.
• The University has won Times Higher Awards in 2007, 2008, 2009, 2010, 2011, 2012 and most recently in 2013 for Outstanding Communications Team and Outstanding Fundraising Initiative. The only university to win awards in seven consecutive years.
The Midlands Engine | Midlands Financial Centre of Excellence 21
• Leicester has been awarded the Queen’s Anniversary Prize for Higher and Further Education on three occasions - the highest form of national recognition open to a UK academic or vocational institution.
De Montfort University
DeMontfortUniversity(DMU)isadynamicinstitutionwithalongandvibranthistoryofimprovingpeople’slivesthrougheducation.Thestudentpopulationiscirca23,000,
Morethan60percentofresearchisinternationalquality,nearlyafifthinternationallyleadingwithinternationallyacknowledgedresearchgroupsincybersecurity,transport,energy,water,advancedmanufacturingandcreativeindustries.
DMUAccountingandFinancecoursesarerankedintheUKtop20forStudentSatisfaction,ValueAddedandGraduateCareerProspects(GuardianUniversityLeagueTables,2019)
TheDepartmentofAccountingandFinancehasretainedtheGoldStatuswiththeACCAforourprofessionalcourses.TutorDawnDavidson(DMU)said:“membersofACCAwereimpressedbyboththequalityofourtutorsandthematerialthatthetutorsproduce.Fromstudentfeedbackformstheynotedhowcommittedtutorsweretothestudentsandthisisacredittothewholeteam”.
TheDepartmentofAccountingandFinancehasrecentlygainedexemptionsfromtheInstituteofFinancial
AccountantsfortheBAAccountingandFinanceprogramme.
TheAssociationofCertifiedFraudExaminershasaccreditedtheMScForensicAccountingprogramme,givingthedepartmentthestatusofananti-fraudeducationprovider.
DeMontfortUniversity(DMU)continuestoinvestinfacilitiestoenhancestudentexperienceandemployability.TheBloombergTradingRoomwillgiveEconomicsandAccountingandFinancestudents’accesstoBloombergmarketdata,analyticsandinformation.
Comprisingof21Bloombergterminals,theTradingRoomprovidesasimulationofwhatitisliketoworkinthefinancialindustryandprovidesexperienceofareallifetradingfloorenvironment
Loughborough University
LoughboroughUniversityisoneofonly15institutionsworldwidetoachieveFiveStarsPlusintheInternationalQSStarsScheme2017andistop10ineverynationalleaguetable.
TheSchoolofBusinessandEconomicsisoneoflessthan1%ofbusinessschoolsintheworldtohaveachievedaccreditationfromallthreemajorinternationalaccreditingbodies:TheAssociationtoAdvanceCollegiateSchoolsofBusiness(AACSBInternational),EQUISaccreditationfromtheEuropeanFoundationforManagementDevelopment(EFMD)andtheAssociationofMBAs(AMBA).
The Midlands Engine | Midlands Financial Centre of Excellence22
Itoffersarichvarietyofpostgraduateprogrammes,fromtaughtmasters,MBAanddoctoralprogrammes,toshortcoursesandexecutiveeducationrelevanttothefinancialservicessector.
AnumberofLoughborough’sresearchersareengagedintopicalandcutting-edgeresearch.Theyhaveabreadthofexpertisespanningtheeconomicsoftrade,foreigndirectinvestment,financialservices,regulatorypolicyandexchangerates,aswellasexpertsininternationalnegotiations,emergingmarketsandexportpromotion,andintheuseofbigdataandsocialmediatogaugepublicopinionshifts.
FiveStarsPlusInstitution–oneofonly15worldwide(InternationalQSStarsScheme2017)
176,000alumnifrom167countries
Top 10ineverynationalleaguetable
Morethan17,800studentsfromover130differentcountries
TeachingExcellenceFrameworkGold
Longstandingcollaborativelinkswithpublicandprivatesectororganisationsworldwide
The Midlands Engine | Midlands Financial Centre of Excellence 23
Nottingham University Business School
NottinghamUniversityBusinessSchool(NUBS)isaninternationalleaderinfinanceandmanagementeducationandaresearchpioneerinentrepreneurship,innovationandsustainability.ItoffersunrivalledinternationalreachthroughitsBusinessSchoolsinNottingham,ChinaandMalaysia,whichformoneofthelargestgroupsoffinanceexpertsatanyUKuniversity.ItholdsdoubleaccreditationfromEQUISandAMBAanditscoursesaregloballyrankedbyTheEconomistandtheFinancialTimes.
TheSchoolhaswell-knownexpertiseinfinance,bankingandriskandexcellentconnectionswiththeprivatesectorandprofessionalbodies.NUBSisaCharteredBankerCentreofExcellenceandtheCBIaccreditsitsMScBankingandFinancecourse,whichmeansgraduatesgainCharteredBankerstatus,whiletheMScFinanceandInvestmentisendorsedbytheprestigiousCFAInstitute.
TheSchool’sCentreforRisk,BankingandFinancialServicesproducesworld-leadingresearch,insightandcommentaryaboutfinancialservicesconsumers,marketsandinstitutions.
NUBSoffersestablishedthoughtleadershipandfacultywithaninternationalreputationfortheunderstandingoffinancialbehaviourandpromotingconsumerinterestsinfinancialservices;fintechinbanking;bankefficiencyandproductivity;corporatefinance;operationalriskinfinancialinstitutions;andIslamicbanking.
NUBSworkswithleadingbanksandfinancialinstitutionsinresearchandconsultancy.In2017,ithostedthefirstNottinghamtri-campusinternationalbankingandfinanceconferencetoexplorenewideasabouttheimpactoffinancialinnovationsonthetraditionalfinancialsector.
The Midlands Engine | Midlands Financial Centre of Excellence24
Locations of Midlands Universities
Wolverhampton
Nottingham
Lincoln
Derby
Leicester
Birmingham
Northampton
14
7
16
5
10
15
11
17
8
20
3
6
9
19
1, 2, 9, 12, 13
4, 18Milton Keynes
M6
M1
A1(M)
M1
M5
M54
M50 M40
M42
M42
M46Coventry
Worcestershire
Telford and Wrekin Staffordshire
1 AstonUniversity 11 StaffordshireUniversity
2 BirminghamCityUniversity 12 UniversityCollegeBirmingham
3 BishopGrossetesteUniversity 13 UniversityofBirmingham
4 CoventryUniversity 14 UniversityofDerby
5 DeMontfortUniversity 15 UniversityofLeicester
6 HarperAdamsUniversity 16 UniversityofLincoln
7 KeeleUniversity 17 UniversityofNottingham
8 LoughboroughUniversity 18 UniversityofWarwick
9 NewmanUniversityBirmingham 19 UniversityofWolverhampton
10 NottinghamTrentUniversity 20 UniversityofWorcester
The Midlands Engine | Midlands Financial Centre of Excellence 25
Key locations: Birmingham
AsthecorecityoftheWestMidlandsregion,BirminghamishometoalargeandhighlydevelopedFinancial,ProfessionalandBusinessServicesclusterandactsastheregion’sprimaryhubforthesesectors.ThecityitselfhashighlydevelopedspecialismsinBanking,Insurance,AccountancyandLegalServicesandManagementConsultancy,isanemergingFintechcentreandhasrecentlybeenannouncedasthehomeofHSBCnewnationalring-fencedbankheadquartersandPwC’sUKregionalheadoffice.
BirminghamhasmoreFinancialandRelatedProfessionalServicescompaniesandmoreemployeesworkinginthesesectorsthananyotherEnglishcityoutsideofLondonandoffersasufficientbreadthanddepthofskillsandtalenttosupportawiderangeofhighvaluefinancialservicesfunctions.
WiththeWestMidlandsCombinedAuthorityareaalreadyhometo4.3mpeopleandoneoftheyoungesturbanpopulationsinEurope,theregion’seconomyisexpectedtoundergosignificantgrowthoverthenextdecade(EY,2017),presentingsignificantmarketopportunityforfinancialservicesgrowth.
DespitethescaleofopportunityanddepthoftalentavailableintheWestMidlands,Birminghamstilloffersahighlycost-competitivebusinessenvironmentrelativetoLondon,withGradeApropertyandstaff
forprofessionalrolestypicallyavailableata40%discountrelativetothecapital.
Birmingham’sfinancialandprofessionalservicesclusterisabletodrawuponatalentpoolof52,000graduatesayearfromacrosstheWestMidlandsCombinedAuthorityarea–ofwhomalmost1in3(14,200)graduatewithBusiness,AccountingandFinanceorLegaldegrees–aswellasaworkingagepopulationof4.7mpeoplelivingwithinanhour’scommute.
Inadditiontohousingmorethan1,000staffforalloftheUK’slargest5commercialbanks,thecityishometoamajorbaseforglobalinvestmentbankDeutscheBankandisincreasinglyafocallocationforchallengerbanks,includingSecureTrust,AldermoreandUnityTrust.ThedepthofbankingtalentavailablemakesBirminghamanidealchoiceforrelocatingfront,middleorbackofficefunctionsoutofLondon.
Birminghamhasalonghistoryofstrengthininsuranceandrelatedindustries.ThecityisamajoremploymentbaseformajorinternationalinsurersincludingZurich,AonandMarshandishometoaseriesofmarket-leadinghome-grownspecialistinsurancecompaniesincludingWesleyanandPhoenixGroup.
Supportingindustriesplayakeyroleinthecity,whichishometothelargestaccountancyandmanagementconsultingclusteroutsideofGreaterLondonandtheMidlands’largestlegalservicescluster,
1Source:NOMIS
Key Locations
The Midlands Engine | Midlands Financial Centre of Excellence26
featuringamixtureoffrontandmiddleofficefunctionsforregional,nationalandinternationallyreknownedlawfirmsincludingEvershedsSutherland,GowlingWLGandHoganLovells.
Thecity’scentrallocationmakesittheidealplacefromwhichtoservicetheUKmarket–90%oftheUK’spopulationcanbereachedbyroadwithin4hoursandwhenHS2entersservicein2026,centralLondonwillbejust38minutesawaybytrain(BirminghamInterchange).
Birminghamiscelebratedasaculturallydiverse,internationalcity.ItishometomoreforeignlanguagesspeakersthananyotherUKregionalcityandhasahigherpopulationofGerman,French,RussianandMandarinspeakersthananywhereelseintheUKoutsidethecapital.
It’sthereforenosurprisethatthecityishometomoreinternationalcompaniesthananyotherregionalcity(FAME,2018)andcontinuestoattractmorejobsfromForeignDirectInvestmentthananywhereelseinEnglandapartfromLondon(DIT,2018).
51,375EmployeesworkinginFinancialandRelatedProfessionalservices–morethananyother
EnglishcityoutsideofLondon(NOMIS,3rdAugust2018).
Over105,000peopleemployedinBirminghamandwiderBPFS(BRES,ONS,2016)
4,390Financialandrelatedprofessionalservices
companies–morethananyothercityintheUKoutsideofLondon.
(NOMIS,3rdAugust2018).
Over13,100companiesinbroaderBPFSsector(ONS,2017)
The Midlands Engine | Midlands Financial Centre of Excellence 27
CASE STUDY
LOMBARD RISK
LombardRiskisaglobalfintechcompany,andisaleadingproviderofregulatoryreportingandcollateralmanagementsolutions.Thecompanyplaysapivotalpartinenablingclientsinthefinancialservicesindustrytosignificantlyimprovetheirapproachtomanagingrisk.Foundedin1989andheadquarteredinLondon,LombardRiskhasofficesintheUS,AsiaPacificandservicecentresinGermany,CapeTownandLuxembourg.
Why relocating?
InNovember2016,LombardRiskannounceditwouldbeopeninganewTechnologyCentreinBirmingham,creating140jobsduringthenextthreeyearsandboostingthecity’scredentialsasamajorfintechhub.ThecompanywillbebasedintheAlphaTowerinBirminghamandwillcaterforthegrowingfinancialservicesindustryinthecity.
Why Birmingham?
Beinganinternationalcompany,connectivityisessentialtoLombardRisk.It’spositioninBirminghamoffersthecompanyexceptionallinkstobothitsnationalandoverseasclients,allowingittomakethemostoftheintegratedrailnetworksandairportfacilitiesintheregion.
What Birmingham has offered them
Mike Payne,LombardRisk’sChiefTechnologyOfficer,highlightedBirmingham’sstrengthininnovationasanotherkeyfactorthatmotivatedthemovetotheMidlands.Headded:“LombardRiskaimstobetheemployerofchoiceinBirmingham,developingfirstclasssoftwaredemandedbyourclients.Birminghamisafantasticcitywithworldclassuniversitiesnearbyandarichpooloftalentedtechnologists,itwasanobviousplaceforustoinvestin.”
The Midlands Engine | Midlands Financial Centre of Excellence28
CASE STUDY
HSBC
Oneoftheworld’slargestbankingandfinancialservicesorganisations,HSBC,haschosenBirminghamasthelocationfortheheadofficeofitsnewring-fencedbank,HSBCUK.Asacompanywithacustomerbase,employeesandbranchnetworkthatcoverstheentireUK,thebankisintheprocessofrecruitingfor1,040newrolesinBritain’ssecond-biggestcity.
Foundedin1836astheBirminghamandMidlandBank,wherethecoreofHSBC’sUKbusinessoriginated,thebankisnowinvesting200millionpounds,includinganewbuilding,inthecitywhereitfirstbegantrading.
Aspartofthisinvestment,HSBChasacquireda250-yearleaseonanew210,000sq.ft.officebuildinginBirmingham’sArenaCentralenterprisezone.Thenewbuildingwillbeoneofthegreenestinthecity,underscoringtheGroup’scommitmenttoreducingcarbonemissions,andwillaccommodateupto2,500HSBCUKstaff.
Antonio Simoes,chiefexecutiveofHSBCBankplc,commentedonthesuccessoftherelocation:
“ThecreationofHSBCUK’snewheadofficeinBirminghamprovidesuswithaonceinalifetimeopportunitytobuildanewandbetterbankforourcustomersandpeople.It’simportantthatournewheadofficereflectsourbrand,cultureandheritageandwehavebeenworkinghardtocreatetherightinfrastructureandenvironment.
Therelocationprocessisalreadyaheadoftarget,andsofararound53percentofthenewroleshavebeenfilled.“
Simoescontinued:
“We’reproudthatournewheadofficewillbeoneofthegreenestbuildingsinBirminghamandwebelieveitslocationattheheartoftheUKwillhelpusgetclosertoour17millioncustomersacrosstheUK.Morethanhalfoftheheadofficeroleswe’removingfromLondontoBirminghamarenowaccountedforandwe’rerecruitinginternallyandexternallyfortheremainingroles,withmorethan2,000HSBCcolleagueshavingalreadyregisteredtheirinterest.”
The Midlands Engine | Midlands Financial Centre of Excellence 29
Key Locations: Wolverhampton
Wolverhamptonhasanumberofkeyemploymentcentres,thelargestofwhichisthecitycentre.ItisthemainFinancial,ProfessionalandRetailcentre,withover4,000businessesemployingover14,000people.Thereare157highturnover(£1m+)businessesand34largebusinessesemployingover250people.
FinancialservicesemployersinthecityincludemajorUKbanksandcentralfacilitiesforHSBC,Santander,LloydsBankingGroup,HandelsbankenandCharterCourtFinancialServiceswhonowoccupy4officesincludingtheirHQatWolverhamptonBusinessParkandhasgrownitsheadcountfrom28peopleto
650inthelast7years.ThecompanywasalsoincludedintheLondonStockExchangeGroup’s1,000companiestoInspireBritain2017report.TheStateBankofIndiahasalsochosenWolverhamptonasoneoftheir10UKlocations.
FinancialandBusinessServicesaccountfor12percentoftheemploymentsectorinWolverhampton.
Wolverhamptonattractsahighlevelofmanagerialandprofessionalworkersintothecity.Therearealmost33,000graduatesinthecitywithover50,000non-graduateswithqualificationsatNVQLevel1,2&3.
The Midlands Engine | Midlands Financial Centre of Excellence30
Withinthecitycentre,majorinvestmentin‘i10’iscomplete,andisthecatalystfor1millionsq.ftofgradeAofficedevelopmentspacewithretailandleisuredevelopmentopportunitiesattheInterchangeCommercialDistrict.Buildingonthesuccessofi10,thenextmajorofficedevelopmentplannedinthecityisi9providing50,000sq.ftofgradeAofficespacecommencingonsiteinFebruary2019.
Thecity’s£150minterchangetransportprojectisnowwellunderwaywhichincludesbuildingandextensionofanewmainlinerailwaystation,anupgradeoftheadjoiningcarparkandanextensiontotheMetro,serving4.75millionpassengersperyearfurtherboostingthecity’sunrivalledconnectivity.
TheUniversityofWolverhamptonisakeycontributortothelocaleconomyfeaturingastateoftheart18mbusinessschoolwithteachingandr&dspecialismsinfinance,accountingandsystemsandeconomics.’
CHARTER COURT FINANCIAL SERVICES
Ian Lonergan,CEO-CharterCourtFinancialServicessaid:
“WepickedWolverhamptonasourbasebecauseithasstronglinkswiththeFinancialServicesindustryandthereforeprovidesuswithawealthofopportunitiestorecruittalentedpeople.ManyFinancialServicesfirmshaveoperationsintheWestMidlandsandbecauseWolverhamptonisclosetothemotorwaynetworkandhasagoodpublictransportsystem,manypotentialemployeesarewithinourcatchmentarea.
Wehavegrownfrom27peopletoover350inthelastsevenyearsandourlocationhasplayedapartinthisachievement.Weintendtogrowfurtherandweareencouragedbythenumberoflargefirmscomingtothearea,whichnodoubtwillimprovetheopportunitiesforemployersandemployeesalike.”
CASE STUDY
The Midlands Engine | Midlands Financial Centre of Excellence 31
Key locations: Coventry
CoventryboastsastrongandemergingFinancialandBusinessServicessector,employingover35,000peopleandprimedforsignificantgrowth.
Drivingthisgrowth,willbetheprofessionalservicesdevelopmentatFriargateandaCityCentreprofessionalquarter,locatednexttoCoventryrailwaystation.Friargateoffersthehighestqualityofficeaccommodationinaprimecitycentrelocation,atasignificantcostsavingrelativetoheadlinerentsinLondonandBirmingham.ThedevelopmentwillactasaninvestmentcatalystfortheindustryintheCity.
TheopportunityinCoventryisunderpinnedbyunrivalledtransportlinksattheheartoftheUK’srailandmotorwaynetwork.
Key Financial Services sector businesses represented locally include:
CoventryBuildingSociety-HQ
StateBankofIndia
FinancialOmbudsmanService
CircleInsuranceServicesPLC-GroupHQ
BarclaysUK(regionalheadoffice)
35,000Coventryhasanemergingstrengthinthe
FinancialandBusinessServicessector,employingover35,000people
The Midlands Engine | Midlands Financial Centre of Excellence32
CASE STUDY
Coventry Building Society
CoventryBuildingSocietyistheUK’ssecondlargestbuildingsocietyandatoptensavingsandmortgageproviderwithassetsexceeding£42.5billion.WeareoneofthefastestgrowingfinancialservicesorganisationsintheUKwithatrackrecordofgrowththatshowsourcommitmenttoofferinglongtermvalueandexcellentservicetoourmembers.
Withourheadquartersandaward-winningcontactcentrebasedinCoventry,we’reanincreasinglyimportantlocalemployer,withthemajorityofour2,400workforcebasedinthecity.Weofferthewiderangeofrolesthatunderpinamodernfinancialmutual,includingmanyspecialistfunctionsthatarerarelyfoundoutsideLondon,andourinvestmentinourcoretechnologyplatformsiscreatinggreatopportunitiesforpeoplewithITandprojectmanagementskills.Weareverymuchaninclusiveemployerlookingtoprovideopportunities
fortalentedpeopleandwe’reequallycommittedtosupportingourpeopleastheydeveloppersonallyandtheircareersattheSociety.
ThekeytotheCoventryiswehaven’tlostsightofourpurpose.We’reheretoputourmembersfirstandthisdrivesourdecision-makingandwaywedothings.PeoplewhoworkattheCoventrywanttodotherightthingformembers,colleaguesandthewidercommunityand,inadditiontoconsistentlystrongfinancialperformances,wescoreincrediblyhighlyintermsofmotivationandengagement.
CoventryBuildingSocietyhasbeenpartofthecitysince1884.Oursuccessfulheritageismatchedbyourambitiontoremainrelevanttoanincreasingmembershipandgrowingworkforceinamodern,fast-movingfinancialsector.Darin Landon, Distribution Director, Coventry Building Society.
The Midlands Engine | Midlands Financial Centre of Excellence 33
Key locations: Nottingham
NottinghamisoneofthekeycentresforFinancialandBusinessservicesintheMidlands,withover66,000(source:NOMIS)employeesinthesector.
HometotheUKheadquartersofExperian,CapitalOneandIkanoBank,amongstothers,thecityisinternationallyrenownedforitsexpertiseinfinancialtechnologyanddataanalytics.Nottinghamalsohasstronglegalservicesandaccountancysectorsthatsupporttheregionaleconomy.
TheriseoftheFintechsectorinNottinghamhasseencompaniessuchasTDXGroup,LexisNexisandOakbrookFinanceexpandsignificantlyoverthepastfewyears.Theaward-winningCreativeQuarterbusinessdistricthasbeenthehomeofmanyofthecity’sthrivingstart-upandscale-upcompaniesacrossthesector.
With15universitiesbeingwithin1hourofthecity,awiderecruitmentcatchmentareaandayoungerthanaverageworkingpopulation;Nottinghamoffersanexcellentopportunitytorecruitfromanextensivetalentpool.
Nottingham’slocationensuresexcellentaccesstotheUK’stransportinfrastructurewithmotorwayandraillinkstoLondonandacrosstheMidlands.NottinghamispartoftheHS2networkwhichwillseejourneytimetoLondonreducedtojustover1hour.NottinghamisalsoservedbyEastMidlandsAirportandBirminghamInternationalAirportwhichoffersuperbaccesstoanarrayofdomesticandinternationalmarkets.1Source:NOMIS
“Nottingham is a fantastic place to build a business - there are two good universities here and there is a wealth of data analytics skill in the city, which means we can find great staff”
Mark Onyett,PartneratBlenheimChalot&Co-FounderofTDXGroup
“The original data business, Experian, started in Nottingham and still has its global HQ here. We’ve seen other financial power houses move into Nottingham too like Capital One, and tech start-ups become international success stories, such as TDX.
The fact those businesses and many others start, grow and succeed in Nottingham was a crucial indicator of future success when we were choosing where to base ourselves”
Olly Betts,CEO,Bizfitech
The Midlands Engine | Midlands Financial Centre of Excellence34
CASE STUDY
Ikano Bank
IkanoBankUK,establishedin1994,hasmorethanover250employeesbasedinNottingham.BeingproudoftheirSwedishheritageandstrongculture,theyalwaystrytoliveuptotheircorepromiseof‘OnFairTerms’ineverythingtheydo.
IkanoofferssalesfinanceandcustomerinsightservicestoretailpartnersincludingBHS,DFS,Harveys,IKEA,KarenMillen,NewLook,Oasis,Tesco,VisionExpressandWarehouse.
Closeproximitytokeysuppliers,suchasTDX,ExperianandCapitalOne,provideacrucialfoundationforstrongrelationshipsandincreasedefficienciesforIkano’sUKoperation.
IntheUK,IkanoBankprovidessimpleBanking&FinancialservicestopersonalconsumersandIkanoInsightprovidesloyaltyprogrammesandinsightservicestomajorretailersaroundtheglobe.Nottinghamistheperfecthomeforthisgrowing,innovativecompanyforanumberofreasons.
TheoriginalchoiceofNottinghamwasinpartinfluencedbyitsproximitytoExperian,aglobalinformationservicescompanywhichprovidesIkanowiththedatarequiredtomakegoodcreditdecisions.
Twohighlyrateduniversitiesalsocreateopportunitiesforbusiness,bothbyleveragingresourcesandalsobydeliveringapoolofyoungtalenttolocalemployers.
Nottingham’scentrallocationwasoriginallyoneofthereasonsforitsimpressiveindustrialheritage.IkanoBankandIkanoInsightwereattractedbytheproximityto
themotorwaynetwork,alocalinternationalairportandtrainsdirecttoLondoninlessthan2hours.IkanoBankandIkanoInsightworkwithmanyretailpartnersbothinLondonandthroughouttheUK.Theexcellenttravellinksmeanthisiseasyandefficientfortheirco-workers.
Therecentintroductionoftramshashelpedco-workersgetaroundthecity.Theiroffice,locatednexttothestation,meanspublictransportisusedtocommutetoandfromtheofficebymanyoftheirco-workers.
“The presence of organisations like Experian, Boots and Capital One has enabled Ikano to tap into a rich seam of talent, particularly analytical resources. Talent from these companies have themselves gone on to spawn new businesses such as TDX, Insurance Initiatives, Oakbrook Finance and HD Decisions, rapidly establishing Nottingham as a nationally recognised hub of analytical excellence, specifically in financial services.”
Daniel Joy,CountryManagerUK,IkanoBank.
The Midlands Engine | Midlands Financial Centre of Excellence 35
Key locations: Leicester
MoreFinancialandBusinessservicesfirmsarechoosingLeicesterastheirbasetoexpandandgrow,nationallyandinternationally.
Trulyconnectedineverysenseoftheword,Leicester’slocationattheheartoftheUKmakesittheperfectplacetostartandgrowabusinessaroundyoursupplychainandpartners,andtooperateonatrulyglobalscale.Londonisanhourbytrain,providingfastandefficientaccessintoEuropewithin4hours,whilstinternationaltraveliseasilymanagedviaEastMidlandsandBirminghamAirports.WorkinginoneofthemostdiversecommunitiesintheUKbringsnumerous
opportunitiestoexpandandgrow.Hereyoucanaccessatrulyinternationalnetworkofculture,customs,personalitiesandperspectivesinour‘world in one city’wherebusinessesrubshoulderswithlocalpeoplewhocollectivelyspeakmorethan100languages.
World in one cityWherebusinessesrubshoulderswithlocalpeoplewhocollectivelyspeak
morethan100languages
The Midlands Engine | Midlands Financial Centre of Excellence36
CASE STUDY
Hastings Insurance Group
HastingsDirectisoneofthefastestgrowinggeneralinsuranceprovidersofferingcar,home,bikeandvaninsurancetotheUKmarket.Withover2.6mcustomers,HastingsDirecthasambitiousexpansionplansandisontracktoinsureoneintenofallUKcardriversby2020,raisingitscustomernumberstothreemillion.
MovingintoLeicesterin2015,theinsurerinvested£2millionestablishinganewbaseintheCity.HastingsDirect’sLeicesterofficequicklyexpandedandtheymovedtotheirpermanenthomeatStGeorgesWayinNovember2015.Reaching700colleaguesinLeicesterinMarch2017,theyannouncedplanstocreateupto500morejobsandnowemployover1,400colleaguesatthecitycentreoffice.
CommunityalsoplaysanimportantpartinlifeatHastingsDirect.Thecompanysupportsthelocalcommunity,goodcausesandlocaleducationthroughthecharitableworkitscolleaguestakepartinthroughouttheyear.HastingsDirectalsoworkswithlocalschoolsoneducationprogramme‘BetheChange’whichlookstoguideandsupportyeareightandninestudentsastheyconsiderandmakedecisionsabouttheirfuture.
AndreaGray,HastingsDirectOperationsDirectorsaid;“SincearrivinginLeicesteroverthreeyearsagowehavebeenwarmlywelcomedintothebusinessandlocalcommunityandenjoybeingpartoftheCity.
The Midlands Engine | Midlands Financial Centre of Excellence 37
Besides the business benefits of locating a Financial Services company in the Midlands, take inspiration from an area full of contrasts, from rolling moor lands and lush river valleys to vibrant cities, historic towns and breath taking landscapes.
Lifestyle
An Area of Contrasts
TheNationalTrusthelpstopreserveandprotectover60historichousesandgardensintheMidlands.Oneofthelargestartandheritagecollectionsprovidesanintellectuallystimulatingexperienceandafascinatingjourneythroughtime.Majesticwoodlands,magicalforestsandcountryparks,willbestowawell-earnedrespitefromcitylife.
TheMidlandshassomeofthefinestlivingandworkinglandscapesintheUKwith5areasofoutstandingnaturalbeautyandover33naturereserves.Fromancientdeerparkstothe10,000acreSherwoodForest,whichishometoover1000ancientoaktreesandthelegendofRobinHood,whetherit’swalking,
abseiling,zorbingorcycling,theMidlandsoffersagreatenvironmenttoenjoyphysicalactivityandawiderangeofsportingexperiences.
60 Historic HomesTheNationalTrusthelpstopreserveand
protectover60historichousesandgardensintheMidlands
The Midlands Engine | Midlands Financial Centre of Excellence38
Over290parksandgardens
Over1,800conservationareas
Over230accreditedmuseums
5AreasofOutstandingBeauty
Fascinating Heritage
TheMidlandshasarichhistorywhichprovidesvisitorswithacaptivatinginsightintoitsindustrialandculturalheritage.TheLunarSociety,setupinBirminghaminthe1750s,hasperhapshadthegreatestimpactonindustrialisationacrosstheWorld.Itwasbehindsomeofthearea’skeyachievementsandtodaymuchofthatheritageisreflectedinthemuseumsandhistoricalsitesacrosstheMidlands.1
Inspiring Culture
GreatnamesofthepastsuchasD.H.Lawrence,WilliamShakespeareandJ.R.R.TolkienhaveallfoundinspirationfromtheMidlands’heritageandlandscapes.Whetherit’sJ.M.Barrie’s“PeterPan,”celebrationstomarkthebirthdayofWilliamShakespeareorawalkinthefootstepsofD.H.Lawrence,thecontroversialliteraryhero,thereismuchtoexperienceintheMidlands.2
1Source:HeritageCounts2Source:NaturalEngland
The Midlands Engine | Midlands Financial Centre of Excellence 39
Premiership Sport
AsthebirthplaceofRugby,theMidlandshasastrongaffinitywiththegame.In2015,AstonVillaandLeicesterCity,playedhosttotheRugbyWorldCup.TheMidlandsisalsohometofourpremiershipclubs,theWasps,Tigers,WarriorsandtheSaints.Thereareplentyofopportunitiesforenthusiastsofallagestoenjoythispopularsportandthereisawidenetworkoflocalclubsforaspiringyoungrugbyplayers.
WithfivecountycricketteamsandtwotestcricketvenuesinNottinghamandEdgbaston,theMidlandshasproducedsomeofEngland’sfinestcricketers.
Enjoyfootballatitsbest.TwoMidlandsclubsplayintheEnglishPremierLeague,LeicesterandWolverhamptonWanderers.NottinghamForestisoneofonlytwoEnglishclubstohavewonback-to-backEuropeanCups.
ForyoungtalentthereisanetworkofFootballAcademiesacrosstheMidlandswhichincludestheEnglishFootballAssociation’s,prestigiousStGeorge’sParkTrainingCentreinBurton,thetraininghomeofthenationalteam.
The Midlands Engine | Midlands Financial Centre of Excellence40
Fine Food and Drink
It’snotjustthetenMichelinstarredrestaurantsthatmakestheMidlandsagreatplacetoeatanddrink,itisahiddengem.Itsvibrantfoodanddrinkscenewillsuitmosttastes,thereissomuchtoexperience;fromArtisancheeses,tofoodfestivalsandcraftbeersandciders.
TheMidlandshasanexcitingmixofhistoricandmoderndaydistilleries,andnestledagainst“CastleRock”is,allegedly,England’sOldestInn,‘YeOldeJerusalem,’claimedtohavebeenbuiltin1189ADandfamousforitscaves,carvedoutofthesoftsandstonerock.
Hometosomeoftheworld’sbestknownfoodsandbrands,Cadburys,WorcestershireSauce,WalkersCrisps,StiltonCheeseandanoverwhelmingnumberofsmallfoodproducers,theMidlandsisaculinarydelight.
Vibrant City Life
Fromsmallindependentshops,toiconicretailstoresanddesigneroutlets,citiesintheMidlandsprovideadistinctiveexperience,packedwithmodernattractions,citycentrerestaurants,barsandgreenspaces.
EnjoyclassicperformancesbythecelebratedRoyalBallet,orexperiencevibrantcontemporaryproductionsalongsidemodernartistsattheArtDecoRoyalShakespeareTheatre.Whetherit’stheClassicfaçadeandCorinthiancolumnsoftheTheatreRoyal,thespectacularstate-of-the-artCurveortheGrandandLyceumTheatres,designedbyVictorianarchitectC.J.Phipps,thereisatimelessappeal,thatwillcaptivateandimpress.
The Midlands Engine | Midlands Financial Centre of Excellence 41
Global connections
Financial Services
CompaniesbasedintheMidlandshaveaccesstoexcellenttransportlinks.TheMidlandsactsastheengineandconduitforlocalandnationaleconomicactivityandtransportflows.
“90% of the UK population is within a 4 hour drive of the Midlands.”
1. Birmingham Airport –accommodatesnearly13millionpassengersperyear,with50airlinesservicingmorethan140routesWorldwide.
2. East Midlands Airport–accommodatesmorethan4.5millionpassengersperyear,servicingmorethan80routesworldwide.
The Midlands Engine | Midlands Financial Centre of Excellence42
Rail and Road Links
TheMidlandshaswellconnectedrailandroadlinkstoLondon,whichcanbereachedinlessthan2hours.
ThedeliveryofHighSpeed2willplacetheMidlandsatthecentreofanewnationalhigh-speedrailnetwork.ItwillprovideenhancedconnectivitybetweenBritain’smajorcities.TraveltimefromBirminghamtoLondonwillbereducedto49minutesandNottinghamtoLondonin1hour8minutes.
Central
Attheheartofanextensivemotorwaynetwork,theMidlandsprovideseasyaccesstoallmajorUKcities.
Connected
TheM6,M42,M54,M5,M1andM40motorwaysprovidehighspeedconnectivitytothenorthandsouthofthecountry.
To London Road Rail
Birmingham 2hr4min 1hr23min
Nottingham 2hr18min 1hr45min
Coventry 1hr46min 59min
Leicester 1hr50min 1hr6min
Wolverhampton 2hr17min 1hr47min
The Midlands Engine | Midlands Financial Centre of Excellence 43
Notes
The Midlands Engine | Midlands Financial Centre of Excellence44
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PublishedMarch2019byDepartmentforInternationalTrade.