FINANCIAL SERVICES Scotland is one of Europe’s leading financial services hubs and is the most complete in the UK outside London. It is recognised for its
strengths in banking, life assurance and pensions, investment management and the more recently developed sector of asset servicing. Around these core
businesses, other sectors have thrived, such as general insurance, corporate finance, stockbroking and the essential support of professional services, such as accountancy and law. Directly employing 96,000
people with seven of the top 20 companies in Scotland involved in financial services, it is not
surprising to find out that this a significant contributor to the Scottish economy. Scotland is also one of the
world’s major fund management centres with more than £650 billion managed directly from the country; and a further £760 billion in the hands of Scotland’s general insurance, life insurance and pensions sector. Another strength Scotland
has developed is in asset servicing – the area that has grown up in recent years from the trend to outsource “back office” jobs from banks and fund managers.
In the past few years,
we’ve seen the likes of Morgan Stanley, Blackrock, State Street, Bank of New York Mellon arrive here and the list goes on,
ELECTRONIC TECHNOLOGIES Scotland has a global reputation for excellence in the electronics industry and has over 50 years of electronics manufacturing experience. Despite changing global
circumstances reshaping the industry, Scotland has successfully maintained a reputation for excellence in electronics and is adapting to industry needs. With countries such as
China expanding their manufacturing capabilities, Scotland has capitalised on its unique, highly-developed infrastructure and long- established electronics reputation. Recently, Scottish companies
have reinvented themselves as high-end electronics producers as opposed to high-volume manufacturers. This shift in focus appears
renewable energy • bioenergy. Scotland’s universities excel in
energy research and development and embrace our culture of collaboration with organisations and companies. Today, the experience and expertise built up by Scotland’s oil and gas
industry is assisting the energy sector’s diversification into renewables.
to be where the future lies for Scotland’s electronics industry. Scotland performs exceptionally well academically with thousands of students graduating from our institutions each year in electronics-based disciplines. The electronics industry
in Scotland comprises around 900 companies, which employ an estimated 55,000 people working in research, development and production across a number of sectors.
helping the sector generate some £7 billion for the economy.
Continued innovation and
a highly skilled workforce are just a few of the strengths that Scotland can continue to offer to make the financial services industry attractive to people from around the world who want to develop their careers in this growing sector.
The perfect place to live and work
Scotland’s reputation for innovation can also be seen from its industrial transformation from an economy based on heavy industry to one that is now based on a wide range of specialist high value sectors. Engineering is still a key
strength in Scotland, helping to continue the country’s traditional skills in shipbuilding and construction, and developing new expertise in aerospace. The chemicals industry
is Scotland’s biggest export earner and, in addition to bulk chemicals, it has developed considerable added-value markets in pharmaceutical and speciality products. This strategy has also proved
successful in the textile industry where the focus is on design and developing luxury niche products, such as cashmere. The state is also a big
employer in healthcare, through the National Health Service, and in education. In addition to schooling, higher education is offered by colleges and universities, many of which are world renowned for their research.
Thanks to the Scotland’s
popularity abroad, tourism is also a major industry, as is the country’s food and drink industry, whose exports hit the £1 billion mark last year. And from a country that
invented the television, it’s no surprise to learn that Scotland has a strong digital media and creative industry.
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