The UK is set to benefit from a major wave of US investment, with financial heavyweights including PayPal, Bank of America, Citi, BlackRock, and S&P Global committing more than £1.25 billion
to Britain’s financial services sector. The move will create around 1,800 new jobs spread across London, Edinburgh, Belfast, and Manchester.
The announcement comes just days before the upcoming US Presidential State Visit, reinforcing what officials are calling the “golden corridor” between the UK and the US — a relationship worth more than £20 billion in trade and central to both nations’ economic growth.
Big wins for UK cities
Belfast: Bank of America will launch its first-ever Northern Ireland operation, creating up to 1,000 jobs. Citi is also deepening its presence, investing £1.1 billion and building on its role as one of Belfast’s largest employers, with more than 4,000 staff already.
Edinburgh: BlackRock has opened a major new office that will almost double its local workforce from 800 to 1,400, part of its multibillion-pound UK expansion.
Manchester: S&P Global is investing over £4 million, securing 200 permanent roles in the city.
London: Broadridge is setting up a new flagship office as its international headquarters, while PayPal is putting £150 million into developing new products for UK customers.
A show of confidence
UK Business and Trade Secretary Peter Kyle called the deals “a significant vote of confidence in Britain’s financial sector and our role as a global hub.” Chancellor Rachel Reeves added that the investment proves “global investors believe in our plan to grow the economy and put money back into people’s pockets.”
For US firms, the UK offers both talent and opportunity. Jane Fraser, Citi’s CEO, described Britain as “core” to the bank’s global foundation, while Larry Fink of BlackRock highlighted how the company already serves 13 million British savers. PayPal’s CEO Alex Chriss said the UK remains “an important region” and promised new AI-powered shopping tools for UK customers.
Cross-border growth
The investments aren’t just one-way. British banks are also expanding in the US — Barclays deployed over $2 trillion in capital across America in 2024 and plans to double that within a decade. Rothesay, OakNorth, Starling, Revolut, and Wise are also scaling their US footprints, together committing billions of pounds to expansion.
Altogether, the latest commitments add up to more than £8 billion coming into the UK and £12 billion flowing into the US, reinforcing financial ties and creating jobs on both sides of the Atlantic.
Looking ahead
The government says this is just the start. With a new Financial Services Growth and Competitiveness Strategy in motion and talks ongoing about a wider UK-US Economic Deal, officials are betting on financial services as a growth engine for the coming decade.
Business and Trade Secretary Peter Kyle said:
“Today’s announcements reinforce the UK’s position as the world’s leading investment destination. Our financial services sector is at the heart of a modern, dynamic Industrial Strategy.
Strengthening ties with the US boosts our economy, creates jobs, and secures our role in global finance, delivering on our Plan for Change.
These investments reflect the strength of our enduring ‘golden corridor’ with one of our closest trading partners, ahead of the US Presidential State Visit”.
Chancellor of the Exchequer Rachel Reeves said:
“This commitment from America’s leading financial institutions demonstrates the immense potential of the UK economy, our strong relationship with the US and the confidence global investors have in our Plan for Change, which is making the UK the best place in the world to invest and do business.
These investments will create thousands of high-skilled jobs from Belfast to Edinburgh, kickstarting the growth that is essential to putting money in working people’s pockets across every part of the United Kingdom”.