London is home to the biggest banks, wealth management firms, stockbrokers, insurers, and fund managers in the U.K.The United Kingdom has long been a financial powerhouse. While London remains its capital city, other cities throughout the country also boast their unique brand of finance. Where are they located? let’s take a look at some of the largest financial centres in the UK.
HSBC is one of the world’s premier financial services companies, operating as both an international bank and a leading global money transfer business.
SCB operates across multiple markets in Asia, Africa, Australasia & Europe. Its brands include Standard Chartered Bank and Stan Chart. It also provides broking, investment banking, treasury, cash management and trade solutions – all delivered through our Global Markets businesses.
RBS Group Plc is a British multinational retail and commercial banking group headquartered in Edinburgh, Scotland. As of December 31, 2013, it had more than £938 billion in assets.
Lloyds Banking Group
Lloyds TSB was created on January 1, 2008, by the merger of HBOS with the Royal Bank of Scotland (RBS), creating Britain’s fifth-largest bank. On October 14, 2014, Lloyds announced that it would split from its holding company Lloyds Banking Group to become an independent publicly listed company, retaining the Lloyds name for the majority of its operations.
Prudential Regulation Authority
The PRU regulates the activities of Prudential Regulation Authorities in each member state. It does this through monitoring and enforcing prudential rules of the Prudential Supervision Order Book. This includes ensuring that insurance companies are solvent; regulating the structure, conduct, supervision and performance of banks; and monitoring securities firms and private equity trusts.
Legal & General Group Plc
Legal & General offers products such as life assurance, pensions and investments into three segments — Life, Retirement and Investment Management. Some of these products include Aviva Investors, Churchill Funds, Legal & General Assurance Company Ltd., Aviva
Nationwide Building Society
Nationwide Building Society was formed following a merger between two building societies in 2002. One of those was the Halifax Building Society. Following further mergers, Nationwide now has over 2 million customers and employs around 50,000 staff.
Santander UK plc, formerly known as Abbey National, is one of Europe’s largest financial services groups headquartered in Glasgow, Scotland. Founded in Spain in 1850, it acquired the Abbey National building society in 1999 and renamed itself Santander UK plc.
Tesco Bank is a subsidiary of Tesco, created in 1998 and launched in June 1999. It was originally part of the Tesco Retail Division but was spun off in 2006.
The RBS Citizens group of companies consists of several subsidiaries providing banking services across the UK. These include RBS World Pay, RBS Home Credit, RBS Wealth Management and RBS Investor Direct.
This is a British multinational financial services company, headquartered in the City of London. Prudential includes life assurance and pension distribution operations, as well as property and casualty insurance.
UBS AG is one of the world’s leading financial services firms. The Swiss bank has offices on all continents and offers its customers a broad spectrum of financial services including broking and trading with equities, commodities, interest rates, currencies, ETFs, mutual funds and other financial instruments. Moreso UBS was formed in 1998 following the merger between UBS and Salomon Brothers.
State Street Corporation
State Street Corporation is an American multinational financial services firm headquartered in Boston, Massachusetts. Through its subsidiaries, State Street provides asset servicing, technology infrastructure, investor services and outsourcing services to financial institutions worldwide.
The Bottom Line.
There are many banks out there but not every single one of them can be considered the best because they do have their drawbacks. Some may take too much time while others may simply fail to help you when you need them the most. If you want to find a reliable bank, then you might consider looking into those above-mentioned ones.