Leading financial centers in Western Europe 2021

London was the most attractive financial center in Western Europe in 2022. According to five broad areas of competitiveness that the ranking was built on: business environment, human capital, infrastructure, financial sector development, and reputation, London received 726 points. Paris was ranked second in Western Europe, with a rating of 706 points. According to the Global Power City Index (GCPI), London was also the most attractive city worldwide for its economy, research and development, cultural interaction, livability, environment, and accessibility.

Financial employment in the UK

   As of 2019, the value added in the finance and insurance services sector in the United Kingdom as a percentage of total GDP was one of the largest in Europe. However, total employment in the financial services sector overall decreased since 2008. The mean weekly wage of full-time employees in the financial and insurance sector also dropped, and never recovered from a sharp decrease in 2018.

Largest European financial institutions

   As of 2020, BNP Paribas topped the list of the largest European banks in terms of total assets. With almost 2.5 trillion euros, the French giant ranked before HBSC Holding, the largest banking institution in the United Kingdom. However, in 2020 HSBC performed better than any other European bank in terms of pre-tax profit.