The City of London is considered one of the most important financial areas in the world, and the centre of finance for the UK. Home to the London Stock Exchange, Lloyd’s of London, the Bank of England, and up until recently the Financial Services Authority. For those seeking finance jobs, it is no surprise that London is the prime destination in England.
The London Stock Exchange is located near St. Paul’s Cathedral and was founded in 1801. It is one of the biggest exchanges in the world, and the London Stock Exchange Group itself is a FTSE100 company with ownership of Borsa Italiana – Italy’s leading stock exchange. Subsequently, careers in the LSE are highly regarded and are sought after by individuals with past experience in investment banking and other financial services. Aside from trading, the LSE also prides itself on its leading data information, and media and business services.
Lloyd’s of London is a society or association rather than a company, and has existed in some shape or form since 1774. Today, its headquarters at the unique Lloyds Building in London is a hub of insurance for the biggest international businesses, including 90 percent of the FTSE100 companies and the top pharmaceuticals and banks. The purpose of Lloyds is to provide specialist insurance via brokers who bring business to the marketplace. Once there, members form syndicates in order to provide capital under the supervision of a managing agent.
The Bank of England has existed in its state-owned entity since 1946. With its headquarters based at Threadneedle Street (and secondary offices in Leeds), its primary aim is to maintain economic stability in the UK. The bank offers opportunities for those with economic-orientated interests in the form of gap-year schemes, internships, as well as full-time positions. Job roles range from implementing strategy and risk assessment, to computing and education.
The Financial Services Authority is based primarily in Canary Wharf and independently regulates banks, insurance companies, financial service companies, and mortgage business. The FSA also prides itself on its opportunities for graduates, as well as experienced financial professionals. For the former, the FSA offer a range of specialist schemes in order for graduates to experience the diverse nature of a career, but to maintain their specific interests such as economic development and legal development. Similarly, the range of training offered to those who have already worked in the financial sector, is also comprehensive in terms of its training and career development.