How has this decade of technological changes affected the UK’s largest financial companies?

The financial industry in the UK has been growing rapidly over the past few years.

With financial companies popping up all over the country, it can't be easy to keep track of them all.

The financial services industry is complex, and many people don't know what they are getting into when they sign up for a new financial service or company.

In this article, we'll take a look at some of the largest financial companies in the UK so you can make an informed decision about where to put your money!

#1. HSBC

HSBC has a long history in financial services, it provides services to 39 million customers in 62 countries and territories across the globe¹.

It's one of the largest financial companies in the world, with assets worth £216 trillion.

HSBC aims to help its customers live well by providing them financial solutions that enable development, growth, and stability around the globe.

#2. Barclays

Barclays falls within the top 20 largest banks in the world based on its total assets².

It's headquartered in London and has assets worth £1.514 trillion³! Barclays has over 48 million customers worldwide⁴, with a presence in more than 40 countries.

#3. The London Stock Exchange Group

The London Stock Exchange Group serves as a financial company that offers financial products and services to companies, investors, governments, and financial institutions.

It's headquartered in London and has about 113 offices around the world⁵!

#4. Lloyds Banking Group

Lloyds Banking Group is one of the oldest UK banks, with roots dating back to 1765⁶.

It's the second-largest financial company in the UK, employing over 58,000 employees.

It offers a wide range of financial products and services, including savings accounts, mortgages, personal loans, credit cards, commercial banking services⁷, and insurance and pensions.

#5. Prudential

Prudential is one of the financial giants in the UK and was founded in 1848⁸.

It's headquartered in London and has assets worth almost £166 billion!

Prudential now focuses purely on its Asia and Africa markets providing health, wealth and welfare services to over 19 million customers⁹.

#6. Aviva

Aviva is the largest life insurance and pension provider in the UK¹⁰.

Its roots trace back to the Hand in Hand Fire & Life Insurance Society established in London in 1696.

The Aviva name was only adopted as recently as 2002 following various mergers¹¹.

Aviva offers financial products like life insurance, pensions, savings accounts, mortgage loans, and investment funds to its customers.

#7. Standard Chartered

Standard Chartered is a financial company based in London.

It offers financial products and services to individuals, corporations, governments, financial institutions, and high-net-worth clients.

Its current assets exceed £665 billion¹².

#8. Legal & General

Legal and General is a financial company that offers financial products like life insurance, pensions, savings accounts, mortgage loans, and investment funds to its customers.

Headquartered in London with branches all over the world, its total assets reached over £513 million in 2022¹³.

#9. Scottish Mortgage Investment Trust

Scottish Mortgage Investment Trust was founded in 1909 by lawyers Carlyle Gifford and Colonel Augustus Baillie¹⁴.

It is an investment company headquartered in Edinburgh with assets worth over £19 billion.

#10. NatWest Group

NatWest Group is a banking and insurance holding company headquartered in Edinburgh.

Services it offers include business, private and investment banking, as well as insurance and corporate finance.

Its total assets exceed £720 billion, and its subsidiaries include the Royal Bank of Scotland¹⁵.

#11. Pershing Square Holdings

Pershing Square Holdings is an investment trust that predominantly concentrates on investments in North American companies¹⁶.

#12. M&G Investments

M&G is one of the largest UK investment companies and has been in business for over 90 years¹⁷.

Savings and investment clients, pension scheme members, and life insurance policyholders make up their client base.

#13. St. James's Place Wealth Management

St. James's Place Wealth Management is a wealth management and advisory company headquartered in Cirencester.

The company was founded in 1991 and now offers advice on everything from investment to retirement planning, mortgages, and income protection to over 850,000 customers¹⁸.

#14. Standard Life Aberdeen

Standard Life Aberdeen, now known as Abrdn¹⁹, is an investment company headquartered in Edinburgh, Scotland and is listed on the London Stock Exchange.

The company employs over 5,000 people across the world and has over 1 million shareholders.

#15. RSA Insurance Group

RSA Insurance Group is an insurance provider based in Horsham, West Sussex.

With roots that date back to 1710²⁰, it now provides personal and commercial insurance to over 9 million customers worldwide.

#16. Phoenix Group Holdings

Phoenix Group Holdings is one of the UKs largest savings and retirement providers.

Its product range focuses entirely on pensions and savings for people of all ages²¹.

Brands that fall under the Phoenix Group umbrella include: Phoenix Life, Standard Life, ReAssure, SunLife, Phoenix Wealth and Phoenix Ireland.

#17. Hargreaves Lansdown

Hargreaves Lansdown is a financial company headquartered in Bristol, England.

It offers advice on investments, pensions, retirement, inheritance tax, long-term care and other financial aspects to over 1.7 million customers²².

#18. Admiral Group

Admiral Group is a financial services company operating in the UK, Erope and America.

It's headquartered in Cardiff, Wales and has businesses in Spain, France, Italy, India, Canada and America²³.

Although it concentrates on insurance, it also provides legal services through Admiral Law.

#19. Schroders

Schroders is a financial services company based in London, England, that primarily offers financial advice and asset management.

The firm has offices in 38 locations spread across Europe, Asia, the Americas, Africa and the Middle East²⁴.

#20. 3i Group

3i Group is a financial institution headquartered in London, that provides private equity, venture capital, and growth financing to companies.

The 3i Group has a global portfolio with offices in Europe, Asia and North America²⁵.

Common Questions

In Conclusion

The financial industry in the UK has suffered its fair share of blows in the past few years.

From a global pandemic to a near recession in 2022, things have been volatile, to say the least.

If nothing else it has taught us that making savvy financial decisions and investments is a must, and as such the need for expert financial advice has increased.

With this in mind, be sure to turn to reputable companies when looking for help managing your money or structuring an investment plan based on your needs and goals.

Whether you want someone specialising in stocks or bonds, trusts or wills, it doesn't matter because one of these major financial companies will have you covered!

References

• www.disfold.com/top-uk-financial-companies/
• www.welpmagazine.com/these-are-the-top-finance-companies-in-united-kingdom-2021/