Hampshire is one of the largest contributors of overall £s of economic output that is generated by the financial and business services sector in the South East of England. Hampshire companies contributed £6.8bn in 2011 which is 18.7% of the South east figure of £36.1bn, with financial services companies alone contributing £2.4bn.
Hampshire has significant strengths in insurance which in employment terms represents 24% of the South East's insurance industry, the largest in Europe. Business and management consultancy, legal professions and accounting and tax professions are also fast growing sub-sectors and account for 15%, 21% and 15% of employment in this sector in the South East respectively.
19 FTSE 100 companies have headquarters, major corporate centres or back office operations in Hampshire. Nine of these are financial and business services companies including;
The north of Hampshire, less than one hour from the capital, has a high concentration of employment in the financial sector with AXA Life, Barclays and De La Rue located in Basingstoke and AON Consulting, Hogg Robinson, Zurich and BMW Group UK located in Farnborough.
To the south of the county, Old Mutual House in Southampton is the UK headquarters of the Swedish financial services company and Swiss owned Zurich Financial Services Group has its headquarters in Solent Business Park on the M27. Ageas, Aviva, HSBC, Ordnance Survey, Deloitte, Ernst & Young and Grant Thornton are also located in Southampton and Handelsbanken, The Southern Co-operative, Capita, Babcock and Pall Europe are located in Portsmouth.
There are 55,600 employed in the financial and business services sector in Hampshire with financial services alone employing 25,000 people. There are also 30,600 people employed in associated professional services in Hampshire which is one of the highest employment rates in the UK outside of London.
Hampshire is rich with graduates and recently qualified talent with essential skills including IT, mathematics, accountancy, economics and finance and business studies. The vast majority of this talent will be alumni of one of Hampshire’s four universities which all have higher than the South East and England average enrolled in Business Studies.
The University of Portsmouth
provides 6000 graduates per year of which more than 200 have specialist finance and banking degrees
. Many of the University of Portsmouth’s academic staff members come from a commercial or industrial background. This helps enable the University to maintain strong links and to actively partner with local finance and business services organisations through collaborative projects, consultancy, talent development, economic forecasting and their process and product innovation expertise.
The University of Southampton
, a member of the prestigious Russell Group of research intensive UK Universities, has an international reputation for world leading research, which is often used by businesses to solve some of their toughest challenges, or to gain a competitive advantage. For example, for the Financial and Business Services sector the University of Southampton runs six world class research centres
, which are addressing issues such as risk, international banking and digital, interactive and data driven marketing.