The UK’s financial services sector has seen a record-breaking week of investment, with commitments totalling more than £110 billion from some of the world’s largest firms. The latest announcement came today (23 September), as Revolut opened its new global headquarters in Canary Wharf, London, pledging a £3 billion investment and the creation of 1,000 high-skilled jobs.
Chancellor Rachel Reeves marked the opening of Revolut’s new headquarters by declaring the UK “open for business,” highlighting how recent reforms are helping Britain attract global financial services investment.
“These investments show that Britain is competing and winning in the global race for financial services,” Reeves said. “Through our Leeds Reforms, we’re making the UK the best place to do business, strengthening our economy and putting more money in people’s pockets.”
The announcements come just months after the government introduced reforms to cut red tape and support financial innovation as part of its Plan for Change.
Revolut, a global fintech leader, confirmed that its £3 billion investment will support innovation and growth from its UK hub. The company, which now serves over 65 million customers worldwide (including 12 million in the UK), employs more than 10,000 people globally and has revenues exceeding £3 billion.
Revolut’s Co-founder and CEO, Nik Storonsky, said:
“Our vision has always been to become the world’s first truly global bank. From our roots here in the UK, we’ve expanded to serve customers around the world. This new headquarters will be the launchpad for our future, supporting our journey towards 100 million customers by 2027.”
Revolut’s expansion caps a week of announcements from major financial firms, including:
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Blackstone: Committed over £100 billion to UK assets over the next decade, including a £10 billion data centre in Blyth.
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BlackRock: Set to allocate £7 billion to UK markets next year, plus a £500 million investment in enterprise data centres nationwide.
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Bank of America: Opening its first operation in Northern Ireland, creating up to 1,000 jobs in Belfast.
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Citi Group: Announced £1.1 billion investment across UK operations, strengthening its presence in Belfast where it employs over 4,000 staff.
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S&P Global: Investing more than £4 million in its Manchester offices, supporting 200 jobs.
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PayPal: Confirmed a £150 million investment in UK product innovations and growth.
Altogether, these commitments will generate nearly 3,000 new jobs across major UK cities, including London, Belfast, Manchester, and Edinburgh.
The Leeds Reforms – the most significant financial regulation changes in over a decade – are at the heart of the UK’s strategy to attract investment. The reforms include tailored regulatory support for fintech start-ups, providing a single point of contact to guide them through scaling and compliance requirements.
By combining regulatory flexibility with targeted support, the government aims to position the UK as the leading hub for financial services and digital innovation globally.
Industry leaders and policymakers alike view this surge of investment as a clear vote of confidence in the UK’s economic stability and potential. With Revolut leading the charge in fintech innovation, and global firms like Blackstone, BlackRock, and Bank of America expanding their UK footprint, Britain is positioning itself as a global powerhouse for financial services.
