The UK government has announced a total of more than 1.25 billion pounds ($ 1.69 billion) in US private investment in the country’s financial services sector, Reuters said. Investments were set from major companies including PayPal, Bank of America, Citigroup and S& P Global to create 1,800 new jobs via Belfast sites to Edinburgh.
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According to data from the IndexBox platform, this capital injection is expected to provide a big boost to the UK’s financial services trade, which was a major component of the country’s exports. The deal is expected to secure 20 billion pounds in trade between the two countries, with an expected commitment of 7 billion pounds from the Blackrock Asset Management Company for its expansion in the United Kingdom.
Bank of America will create the first ever operation in Northern Ireland, creating up to 1,000 new jobs in Belfast. Citigroup will invest 1.1 billion pounds in its operations in the United Kingdom, while the S& GLBAL will establish 200 permanent jobs in Manchester through an investment of 4 million pounds.
Source: Indexbox Market Intelligence
