Scotland's financial services sector doing so well that investors from London to Japan are on their way

Scotland, like much of the UK, is navigating a period of low economic growth. This is not a story of stagnation, it is a story of untapped potential. With the right support, collaboration, and investment, that potential can be unlocked. That is why we are here.

The City of London is working hand-in-hand with Scottish business to boost the economy at a time when it is needed most. We are bringing global investors to Scotland to see first-hand the innovation, talent, and ambition that make it such a compelling place to invest. From fintech in Edinburgh to green finance in Glasgow, Scotland is not just a regional centre, it is a national asset.

This summit – conceived by Sandy Begbie CBE and I, developed in partnership between the City of London Corporation and Scottish Financial Enterprise and supported by the Scottish Government – is a clear signal of our shared commitment to driving inclusive growth across the UK. It builds on the renewed partnership agreement between the Scottish Government and the City of London Corporation, that I signed earlier this year, which deepens collaboration across sustainable finance, data, AI, and more.

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Stability and smart regulation

We are proud to be joined by senior leaders from across finance and government including the First Minister and Deputy First Minister of Scotland, Darren Jones MP, the Governor of the Bank of England Andrew Bailey, and Nikhil Rathi, chief executive of the Financial Conduct Authority. Their presence reflects the strategic importance of this summit, and the seriousness with which we approach Scotland’s economic future.

Financial stability and smart regulation are key enablers of growth. That is why Andrew Bailey and Nikhil Rathi are here – to listen, to engage, and to help shape the conditions for long-term success. Their involvement underscores the importance of creating a regulatory environment that supports innovation while maintaining resilience.

Earlier this year, I signed the Mansion House Accord with the Chancellor of the Exchequer, a landmark agreement that brings together leading pension providers to unlock billions in capital for high-growth companies across the UK. This initiative is designed to channel long-term investment into the very sectors where Scotland excels – fintech, clean energy, data, and advanced manufacturing. The accord is a bold step toward building a more dynamic, inclusive economy, and Scotland stands to benefit significantly from this renewed focus on growth.

The Mansion House Accord is a commitment to unlocking the potential of the UK’s entrepreneurial ecosystem. It aims to ensure that UK savers can benefit from the growth of UK businesses, while those businesses gain access to the capital they need to grow. Scotland, with its thriving innovation hubs and world-class talent, is perfectly positioned to be a major beneficiary of this initiative.

World-renowned banking sector

Scotland’s financial services sector is already thriving. With over 200 fintech companies based in Edinburgh alone, more than £700 billion in assets managed from the city, and 6.6 per cent of UK financial and professional services exports originating from Scotland, the nation is a vital contributor to our shared prosperity. Its banking sector is world-renowned, with deep roots and global reach. Its talent pool, driven by world-class universities and a culture of innovation, is extremely strong.

Scotland also offers a unique blend of strengths that make it attractive to global investors. It has a robust and diverse financial ecosystem, a strong commitment to sustainability, and a collaborative spirit that fosters innovation. Through pioneering ethical finance, developing cutting-edge fintech solutions, or leading the way in green energy transition, Scotland is shaping the future of finance.

Several major investment firms are already expanding their footprint in Scotland because they believe in its long-term success – not just as a regional centre, but as a driver of the UK economy. The summit will feature senior leaders from some of the most influential institutions in the financial and energy sectors, including BlackRock, Barclays, Lloyds Banking Group, ScottishPower and more. These organisations are not only investing in Scotland, they are helping to define its future as a global centre for financial excellence and sustainability.

Scotland is open for business

We are also honoured to welcome a delegation of international investors, including representatives from leading Saudi Arabian and Japanese investment institutions. Their participation underscores the global interest in Scotland’s financial ecosystem and the growing recognition of its potential as a hub.

This is about connecting global capital with regional opportunity. It is about showing the world that Scotland is open for business and that the City of London is here to help make those connections happen.

Through our UK Regions and Nations programme, we are working closely with cities and regions across the UK to support shared priorities in financial and professional services. Whether it is fintech in Edinburgh, insurance in Leeds, or green finance in Glasgow, we are committed to amplifying regional strengths and mobilising capital where it can have the greatest impact.

A forward-looking economy

As Lord Mayor, I have had the privilege of visiting financial centres across the UK. I have seen the talent, the drive, and the ingenuity that exists in Scotland. This summit is about recognising that – and ensuring it is supported by investors, policymakers, and industry leaders alike.

It is also personal. I call both Aberdeenshire and London home. I am proud to see us working together to build a more resilient, inclusive, and forward-looking economy.

This summit is a statement of intent. A commitment to collaboration, innovation, and shared success. The City of London Corporation stands ready to support Scotland’s financial future and to champion investment that benefits the whole of the United Kingdom.

Alastair King is the Lord Mayor of the City of London. Scotland’s Global Investment Summit is taking place on Monday and Tuesday next week