Scottish Financial Enterprise is the representative body for Scotland's financial services industry. It is a company limited by guarantee based in Edinburgh. Member companies range in size from global organisations headquartered in Scotland to small, locally-based support companies drawn from all areas of financial services. SFE's members encompass all of the main sectors within the industry, including banking; fund management and investment management; general insurance, life assurance and pensions; asset servicing; corporate finance and broker services; professional services and support services. In addition, the membership includes professional bodies and government bodies: the Bank of England and Scottish Enterprise. The diverse membership reflects Scotland's position as a leading European financial centre; second only to London in the UK. The industry makes a significant contribution to the Scottish economy, accounting for up to one in every ten jobs in Scotland. SFE's members account for over 80 per cent of people employed within the financial services industry in Scotland, which employs over 143,000 people directly and indirectly.
David Skinn, Distribution Director Intermediated General Insurance Business, Aviva
Louise Smith, Head of Design Personal and Business Banking, RBS
SFE Initiatives
SFE examines a range of policy issues which are of interest to the financial services industry in Scotland. They work closely with governments at all levels to exchange information, provide advice and views and promote the work of the industry. SFE also works with their members to formulate responses to government consultations in policy areas which affect the financial services industry. SFE also run a number of strategic initiatives and SFE member policy groups: · High Level Strategy Group · FinTech Strategic Initiative · SFE Young Professionals · Sector Policy Groups: Private Client, Investment Management, Professional Services, Cross Sector Forums
Financial Services in Scotland
Scotland has a distinguished history in financial services that dates back over 300 years.
It is one of Europe’s leading financial centres and the second financial hub in the UK outside of London.
Includes Banking; Fund Management; Insurance, Life Assurance and Pensions; Asset Servicing and Professional Services.
Employs 86,000 people directly and 57,000 indirectly
Generates around £8 billion for the Scottish economy, more than eight per cent of Scottish onshore economic activity
Manages over £800 billion of funds.
Accounts for 24 per cent of all UK employment in life assurance, and 13 per cent of all banking employment.
