A new report, released today by TheCityUK, sets out a future vision for the UK-based financial and related professional services industry to ensure its long-term growth and success. As an international leader, the industry starts from a strong position.
However, as it becomes more global, competitive and technology fuelled, and with added headwinds from a pending Brexit, the report warns that complacency is not an option. The structural challenges facing the industry must be addressed now and new opportunities created or its competitive advantage, and the continued attractiveness of the UK, could be challenged.
TheCityUK report, UK financial and related professional services: meeting the challenges and delivering opportunities, lays out a comprehensive framework for the industry to deliver innovation, be more resilient and better skilled, identifying five broad areas for focus. Given the importance of the industry to the wider economy, it also makes clear the need for industry to work collaboratively with policymakers and regulators across these areas to bring forward policies that support and drive growth.