Greater Birmingham Business Professional & Financial Services

GRE ATER BIRMINGHAM B U S I N E S S, P R O F E S S I O N A L AND FINANCIAL SERVICES MAKING IT HAPPEN

B U S I N E S S, P R O F E S S I O N A L A N D FINANCIAL SERVICES The Greater Birmingham region is located in the very centre of the UK and anchored

by Birmingham. Home to world-class company headquarters, innovative entrepreneurs, international and regional centres of excellence and one of the youngest populations in Europe. Greater Birmingham is a dynamic, thriving and business-focused region.

With a highly-skilled talent pool, the area provides the scale and size to service the largest of business functions.

Business Birmingham, Invest Black Country and Solihull for Success are inward investment agencies working together to attract foreign direct investment and promote development in the area as part of the European Regional Development Fund (ERDF) City Region Project, on behalf of the Greater Birmingham and Solihull Local Enterprise Partnership (LEP) and the Black Country LEP.

The region is going through an unprecedented period of transformation, and is leading post recession national growth and development trends. With record levels of infrastructure investment, increasing international recognition and countless opportunities for companies to thrive in the region, there has never been a better time to invest in Greater Birmingham.

The city of Birmingham has the largest regional financial and professional services hub in the UK, employing nearly 95,500 people in over 8,400 companies. The city also has the one of the largest legal services clusters in Europe and the largest accountancy clusters outside London.

THE UK IS THE WORLD’S LARGEST CENTRE FOR CROSS-BORDER BANKING

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STRENGTHS

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The UK is the world’s leading exporter of financial and professional services with a trade surplus of £61 billion in 2013.

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UK banking sector assets are the fourth largest in the world behind China, the USA and Japan.

The UK is the leading western country and Europe’s premier centre for Islamic finance, with US $19 billion of reported assets.

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BPFS IN GREATER BIRMINGHAM ■■

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Largest concentration of professional services outside the capital.

One of the largest insurance markets in Europe consisting of many niche and bespoke organisations.

Largest regional centre for major accountancy firms.

An excellent professional hub consisting of major Grade A office developments in Birmingham city centre - including Brindleyplace, Colmore Business District and Snowhill.

Major speculative office developments include the Eastside Locks scheme and Paradise Birmingham which occupies a key position as an entry point to Birmingham city centre for passengers travelling on High Speed 2 (HS2), as well as the landmark 2.3 million sq ft Arena Central development.

LOCATION ■■

The Birmingham Law Society is the largest law society in the UK representing over 4000 individuals in 130 practices.

The city’s location at the confluence of the UK’s major road and rail networks makes it one of the most accessible regional cities in the UK. With the development of the High Speed (HS2) rail link journey times to the capital will be significantly reduced.

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Global connectivity - extension of Birmingham Airport with over 150 direct connections to established markets.

61% lower business costs and overheads in the region compared to the capital.

Groundbreaking plans in Birmingham city centre for major office-led mixed use developments.

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Six universities and 18 further education institutions within Greater Birmingham provide a pool of professional talent to aid the BPFS sector.

The Greater Birmingham Professional Services Academy created as a collaboration between large firms such as Deutsche Bank, DTZ, KPMG and Birmingham Metropolitan College is fostering the professional talent of the city for future employment in the sector.

LARGEST REGIONAL BPFS HUB IN THE UK BRINGING

£16 BILLION

INTO THE AREA

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STRENGTHS

The quality and range of insurance skills in Greater Birmingham are due to a rich tapestry of specialist and niche operations.

The city of Birmingham is one of only four UK cities with over 9,000 Credit and Insurance professionals, and the region is home to major insurance operations such as Allianz, AON, Mercer, Marsh and Zurich.

For historical reasons relating to Greater Birmingham’s development as a major manufacturing centre, the local insurance market has a strong focus on commercial insurance packages (professional indemnity, engineering insurance and other specialisms), but also offers a wide range of products to other markets.

BANKING

FINTECH Fintech is technology that engages with or delivers financial services. The rise of Fintech has opened up a world of possibilities enabling businesses to efficiently offer an increasing range of services to their customers.

Greater Birmingham is a hotspot for tech start-ups and Small-Medium Enterprises (SMEs), digital programme development centres and large, operational infrastructure functions, providing those services to an increasing number of international companies. Virgin Media, Capita, Severn Trent, N-power and Sainsbury’s are examples of firms that have major technical centres in the region that provide live support to large volume transactional operations. These firms are reaping the benefits of a cocktail of innovative webbased skills and a large, highly-skilled workforce providing both front-end design and system-support talent.

LAW

SUPPORT SERVICES

The region has the largest branch of the College of Law in the UK, and the West Midlands contains major legal departments

ISLAMIC FINANCE The region is a key location for the development of Islamic Finance. The Elshaarani Centre for Islamic Business and Finance at Aston University has been developed as a result of a £1.5 million grant from Dubai-based business Surgi-Tech and aims to establish Birmingham as the centre for Islamic finance in the UK. The EIBF offers postgraduate, PhD, executive and professional programmes at the highest international standards.

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Birmingham is one of only four cities in the UK with over 10,000 people employed in banking. A reflection of this success is the recent attraction in banking investment into the city such as the continued growth of Deutsche Bank, now with over 1,000 employees in its Birmingham offices. Also, in the largest property deal to take place since 2002, HSBC Bank plc has chosen Birmingham for the headquarters of its new ring fenced UK retail and commercial banking business. It is a move that will involve relocating 1,200 roles from London to a new 210,000 sq ft development in Birmingham’s Enterprise Zone from 2017.

The region is at the nucleus of one of the largest legal centres in Europe, offering firms the necessary specialist pool of talent for legal operations in Greater Birmingham.

In addition there are 14,000 students currently studying law within an hour of Birmingham, with 4 major universities offering law degrees.

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within institutions such as the University of Birmingham, Birmingham City University, University of Wolverhampton, University of Warwick, University of Leicester and Staffordshire University amongst others.

Firms can source graduates who would be available on short-term contracts before commencing their training contracts, as well as Legal Practice Course (LPC) graduates who are yet to secure training contracts.

The presence of some of Europe’s largest Business Process Outsourcing (BPO) providers (Capita, Serco, Cap Gemini and IBM) within the region is testament to the credibility and quality of the professional environment. Furthermore, the ecosystem that has grown around these large organisations provides countless opportunities and the perfect environment for SMEs within the sector to thrive and grow.

Birmingham was an easy choice when it came to picking a location outside London.

The key factor is the labour market here.

We have been able to recruit the highestcalibre teams for compliance, technology and professional services.

PAUL ANDERSON Deutsche Bank Birmingham

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Without doubt Birmingham was the very best place for us to locate Droplet.

We were looking for a welcoming city with great connections to a broad range of industry sectors to test and trial our mobile phone payment platform.

DAVID ROBERTS Chief Operating Officer (COO) Droplet

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INSURANCE

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200,000 PEOPLE

EMPLOYED IN THE BPFS SECTOR IN GREATER BIRMINGHAM

300 OVER

COMPANY HEADQUARTERS LOCATED IN BIRMINGHAM

GREATER BIRMINGHAM IS HOST TO SOME OF EUROPE'S LARGEST BUSINESS PROCESS OUTSOURCING PROVIDERS

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COMPANIES

Greater Birmingham has the largest regional financial and professional services hub in the UK, employing nearly 250,000 people in over 23,000 companies, and bringing ÂŁ16 billion (29% of GVA) into the region.

OVER 35%

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OF THE CITY OF BIRMINGHAM GVA IS GENERATED BY THE BPFS SECTOR

DEUTSCHE BANK

HOGAN LOVELLS

Deutsche Bank AG is a German global banking and financial services giant with its headquarters in Frankfurt. It has more than 100,000 employees in over 70 countries, and a large presence in Europe, the Americas, Asia-Pacific and the emerging markets.

Hogan Lovells is a global legal practice that helps corporations, financial institutions, and government bodies across the spectrum of their business.

Deutsche Bank opened its first office in Birmingham in late 2006, initially with 30 employees. Since that first investment it has become the region’s largest foreign owned financial services company, employing over 1,000 staff in a range of roles in technology, support operations and increasingly front office functions. The Birmingham office now services 600 clients that were previously handled in London across debt, listed derivatives and cash equities, which have generated a 150% increase in profit.

The bank has plans to double its staff levels in the near future.

DTZ DTZ’s history dates back to 1784 when the founding predecessor firm, Cheshire Gibson was established in Birmingham. Since then, the company has become a global leader in property services, providing occupiers and investors around the world with industry leading, end-to-end property solutions.

In 2013 DTZ chose to establish its Europe, Middle East and Africa (EMEA) Financial Control European Centre of Excellence in Birmingham’s Colmore Business District.

The availability of accountancy talent in Birmingham, coupled with the region’s multilingual capabilities, enabled the company to consolidate operations from across the UK, Germany, France and Poland.

The project demonstrated the complete package that the region offers, especially in relation to companies that need to service an international client base at both an SME and corporate level.

Hogan Lovells chose Birmingham's Colmore Business District for its new UK operation and will open a 20 lawyer office in the city.

The firm plans to grow to 100 staff citing employment and real estate costs as the reason for the move.

Alan Greenough, Global Head of Private Equity said Hogan Lovells considered other cities before opting for Birmingham, "We looked at several locations but Birmingham won because, first of all, it is quite close to London and it has a strong legal community, so we can find the people we want, as well as good transport links.

And while the Birmingham base is certainly designed to save money, it is also about winning new business with the expectation that giving clients the option of using the low-cost centre will land the firm new panel appointments."

GEORGE GREEN LLP Building on its Black Country heritage dating back to 1897, George Green LLP has grown to be one of the region’s leading law firms serving both businesses and individuals within the Greater Birmingham region.

The Cradley Heath based firm has recently opened a further office in Wolverhampton, ideally placed to support increased economic activity around the i54 Enterprise Zone.

This new strategic site includes major occupiers such as Jaguar Land Rover, Moog, Eurofins and ISP. Senior Partner, Paul Bennett cites location as integral to the firm’s success.

THECITYSECRET thecitysecret is an established software engineering and consultancy company working with top tier financial institutions across the financial centres of Geneva, London and Moscow. After opening its Brindleyplace office in the region in 2013, the operation is revolutionising the sector through the development of the Harchvärd platform - which puts powerful tools into the hands of any team managing alternative assets. The success of this initiative is maintained by keeping all assets (liquid and illiquid) in one place and managing through an easy to use application.

DROPLET Droplet, founded and based in Birmingham, is a revolutionary mobile app that is changing the way people pay online. Its web-enabled capability integrates payment, bespoke marketing messaging and mobile loyalty in one user friendly app. In 2013, the company launched its mobile commerce platform, allowing merchants to turn Droplet into a remote ordering tool for anything from food to car parking. The region has been integral to the success of the company, and provided a broad range of industry sectors to test and trial the platform.

The Greater Birmingham region is a great place to do business. The BPFS case studies listed here are just a snapshot.

For more information, please go to businessbirmingham.com

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GRE ATER BIRMINGHAM REGION OF OPPORTUNITY

In April 2011, the city centre Enterprise Zone (EZ) was launched comprising of 26 sites across Birmingham's city centre. Focusing on key sectoral strengths, including professional and financial services, digital media, ITEC and the creative industries, these sites provide opportunities for 700,000 m2 of new office floor space and 600,000 m2 of new leisure, recreation and commercial floorspace.

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To accommodate growth in the financial and professional services sector, the Central Business District (CBD) within the city core is expanding westwards to take in the Arena Central and Paradise Circus development sites as well as northwards to include Snowhill.

Future plans around High Speed Rail (HS2) also see the CBD expanding over time.

Over the next five years, these will present some of the biggest regeneration and development projects in the UK, offering unique opportunities for companies seeking high profile, Grade A office space in a worldclass business environment.

Paradise Birmingham is one of the major schemes central to the Enterprise Zone.

The £500 million scheme covering 17 acres will deliver an extension to the CBD linking key parts of the city centre. The completed scheme will create a high quality setting for new buildings and public areas. The first two buildings providing 33,000 sqm of grade A office space will be available from 2018 onwards.

The past few years have seen increasing interest and investment in the Enterprise Zone, including 30,000 sqm Grade A office floorspace at Two Snowhill, the largest office development in Birmingham since the onset of the recession. Occupiers for the site include the international law firm Wragge Lawrence Graham & Co and it will also be the construction Headquarters for the Government's High Speed Rail (HS2) project – creating 1,500 jobs in the city centre.

In total, nearly £600 million of private sector investment has been committed to the site.

Developments are underway or have been completed on 12 Enterprise Zone sites already.

Site Development - more than £148 million of funding to develop Grade A office accommodation at Paradise Circus. The Southern Gateway, a £200 million redevelopment, will also create a development platform and improve the retail and leisure offer of the city centre. £15 million has also been committed to the development of other EZ sites across the city.

The Enterprise Zone is supported by a £275 million EZ Investment Plan for 2013/14 to 2022/23 which will deliver:

Infrastructure - £43 million of investment focused on delivering an extension to the Metro (tram/subway/ underground) service to serve Arena Central and Paradise Birmingham sites, alongside world-class enhancements to key areas of public realm in the city centre including Centenary Square.

Future Expansion of the EZ - a commitment has been given by Government to extend the geography and duration of the Enterprise Zone to include the Curzon regeneration area and the location of the new Birmingham’s HS2 terminus. This will facilitate investment in infrastructure to maximise the benefits of HS2.

Birmingham Curzon HS2 Masterplan a new regeneration company will lead the redevelopment around Curzon Street, Birmingham’s HS2 terminus. Set within Eastside City Park, Birmingham Curzon will be connected by new public squares and plazas to the surrounding retail and commercial core, the thriving Digbeth Creative Quarter and the growing university and business district of Eastside. The project will be one of the biggest urban regeneration schemes in Britain and with 141 hectares of the city centre to be transformed, is set to deliver 14,000 jobs and up to a £1.3 billion boost to the local economy.

Rates Relief - relief of up to £55,000 per annum over a five-year period for businesses entering the zone before 31st March 2018, subject to eligibility.

BPFS IN BIRMINGHAM CITY CENTRE

COLMORE BUSINESS DISTRICT

Enterprise Sites

GUNSMITH QUARTER

JEWELLERY QUARTER

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Snow Hill

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WESTSIDE & LADYWOOD

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Wragge Lawrence Graham & Co

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DLA Piper LLP

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Eversheds

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No 5 Chambers Ltd

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Pinsent Masons LLP

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Axa Insurance Plc

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Capita Insurance Services

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Direct Line Insurance

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Royal & Sun Alliance

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HSBC

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PricewaterhouseCoopers LLP

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Ernst & Young LLP (EY)

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KPMG

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Allianz Insurance Plc

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Investec Wealth & Investment

EASTSIDE

Proposed HS2 Route

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Paradise Forum

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Proposed Curzon Street Moor Street

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BRINDLEYPLACE

New Street

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DIGBETH

Mailbox development

Lloyds Banking Group

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oyal Bank of R Scotland Group

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Deloitte

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Mercer Consulting

SOUTHSIDE & HIGHGATE

The above list of key companies represents a cross-section of the BPFS sector.

For a full list, please go to businessbirmingham.com

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BRINDLEYPLACE

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SUPPORTING YOUR BUSINESS NEEDS

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Business Birmingham is the city's award winning inward investment programme for the UK’s second city, the link to establishing or growing a company’s presence in Greater Birmingham. We are the access point to Greater Birmingham’s business networks and to the numerous benefits from the region’s strong enterprise culture. We strive to work with investing companies as a strategic partner to create relevant business solutions.

By working as a strategic partner and consultant with local, national and global businesses, we can provide relevant information and a comprehensive package of support services. Through us, companies will have direct access to an extensive network of skills, knowledge and assistance.

Invest Black Country is the inward investment organisation for the Dudley, Sandwell, Walsall and Wolverhampton areas, providing strategic leadership and identifying global opportunities to promote investment in and export from the Black Country.

Invest Black Country works with businesses that are looking to expand or relocate and demonstrates why being in the Black Country makes business sense.

Through Invest Black Country, businesses can access a bespoke range of services from market intelligence, property support and supply chain development to access to finance and innovation opportunities that will help them as they land, grow and thrive in the Black Country.

Supported by a highly-qualified skills base and strong track record in high-value business activities, Solihull continues to draw interest from global corporations and small entrepreneurial businesses alike.

UK Central (UKC) is a unique concentration of strategic economic assets and infrastructure at the heart of the UK’s transport network.

Comprising of Birmingham Airport, the National Exhibition Centre and the planned HS2 interchange, UKC is already a key driver of the regional economy, attracting investment and creating jobs. The central location, connectivity opportunities and skilled workforce attract the investment that is already delivering economic growth rates over 150% higher than the national average.

INVEST BLACK COUNTRY

BUSINESS BIRMINGHAM invest@marketingbirmingham.com businessbirmingham.com/catalyst

w.langford@investblackcountry.com investblackcountry.com @invest_bc

SOLIHULL FOR SUCCESS Solihull Metropolitan Council business@solihull.gov.uk solihullforsuccess.com @solforsuccess

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THE PREMIER LOCATION FOR FINANCIAL SERVICES The incredible amount of investment in the financial and related professional services sector has been led by the region’s ability to provide a high-quality location for back office and middle office functions that complement and strengthen an organisation’s business model.

The financial services sector is in the midst of an extraordinary period of fundamental change. The first half of 2014 saw all five major UK banks record a profit for the first time since 2010, with combined profits of £17.5 billion.

The UK’s outsourcing consumer market is the second largest in the world and has been growing its reputation as a viable option as companies focus on competitiveness, cost reduction, localised operations and a deeper relationship with the customer.

The combination of a strong service mentality and excellent availability of talent alongside a narrowing of the cost gap between the UK and off-shore centres has led to more domestic and international firms reconsidering regional UK centres as part of their strategy.

Unlike other regions that build their proposition on front of house customer service activity, Birmingham’s value in this sector is based on richer credentials.

The critical mass of talent and resources, unparalleled physical infrastructure and connectivity, as well as up to 50% lower prime rental costs than the capital, has enabled Greater Birmingham to emerge as a leading destination for

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financial and professional services. The region provides a solution for those firms seeking to relocate major areas of their business currently residing in higher cost centres, as well as those wishing to consolidate departments spread across multiple locations.

Additionally, the professional ecosystem that has enabled these projects is constantly evolving. The cluster of small businesses in this sector is the backbone of the region’s offer, not only helping to create and support a perfect environment in which larger firms can operate, but also enabling countless opportunities for start-ups and SMEs in the region.

The presence of some of Europe’s largest Business Process Outsourcing (BPO) providers, such as the DTZ EMEA Financial Control European Centre of Excellence, alongside major projects from firms such as Hogan Lovells and Deutsche Bank have seen high-value front office functions moved to the region.

These businesses are typically seeking a high quality, versatile and cost effective base that serves as a catalyst for future growth and these moves are testament to the excellent city region proposition for firms.

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The gravitational pull for professional services in cities outside of the capital is now greater than ever. The pool of young and ambitious talent consciously developing careers locally is growing. Local diversity is a real asset in a globalised market.

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PAUL BENNETT Senior Partner George Green LLP

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GRE ATER BIRMINGHAM CONNECTED TO BUSINESS

250,000 people in over 23,000 companies

Most connected region in the UK

One of the largest legal centres in Europe

The largest business and financial services representation outside London

One of only four UK cities with over 9,000 finance professionals

6,100 Business & Administrative Studies graduates

Two Business Schools ranked in the Financial Times global top 100 (Aston Business School & University of Birmingham)

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Largest regional BPFS hub in the UK bringing ÂŁ16 billion into the area

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Want to know how we can make Business Professional and Financial Services happen?

Get in touch with our Invest Team quoting ‘Making it happen’ T: +44 (0)121 202 5022 E: invest@marketingbirmingham.com W: businessbirmingham.com Join in the conversation #Makingithappen business_bham BusinessBirmingham BusinessBirmingham To download a digital version of this brochure please log on to businessbirmingham.com/BPFS