Business, Professional and Financial Services (BPFS)
The critical mass of talent and resources, unparalleled physical infrastructure and connectivity, as well as prime rental costs up to 50% lower than the capital, have enabled Greater Birmingham to emerge as a leading destination for financial and professional services. The city of Birmingham has the largest regional financial and professional services hub in the UK, employing nearly 100,000 people in over 10,000 companies. The city also has the one of the largest legal services clusters in Europe and the largest accountancy clusters outside London.
The region provides a solution for those firms seeking to relocate major areas of their business currently residing in less efficient higher cost centres, as well as those wishing to consolidate departments spread across multiple locations.
“Birmingham was an easy choice when it came to picking a location outside London. The key factor is the labour market here. We have been able to recruit the highest-calibre teams for compliance, technology and professional services.”
Paul Anderson, Deutsche Bank, Birmingham
BPFS in Greater Birmingham
- Largest regional BPFS hub in the UK bringing £10.5 billion into the area
- One of the largest insurance markets in Europe consisting of many niche and bespoke organisations
- Home to the Birmingham Law Society, the largest local law society in the UK representing over 4000 individuals in 130 practices
- Largest regional centre for major accountancy firms
- An excellent professional hub consisting of major Grade A office developments in Birmingham City Centre – including Brindleyplace, Colmore Business District and Snowhill
- Major speculative office developments include the Eastside Locks scheme which occupies a key position as an entry point to Birmingham city centre for passengers travelling on HS2, as well as the landmark 2.3 million sq ft Arena Central development
- An unparalleled strategic location at the heart of the UK’s motorway and rail network, enabling a commute to the capital in under 75 minutes
- Global connectivity in the form of an expanded Birmingham Airport. The extension builds on an existing portfolio of over 150 direct connections to both established markets, such as North America and Europe
- Significantly lower business costs and overheads in the region compared to the capital
- Groundbreaking plans in Birmingham city centre for major office led mixed use developments driven by billions of pounds of infrastucture development.
- Birmingham is one of only 4 UK cities to contain over 10,000 finance professionals
- A critical mass of professional talent including specialisms in HR, insurance and law
- 6 universities and 18 further education institutions located in the region
- Collaboration between large firms such as Deutsche Bank, DTZ and KMPG with Birmingham Metropolitan College to create the Greater Birmingham Professional Services Academy – fostering the professional talent of the city for future employment in the sector.