Greater Manchester UK

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Manchester Business


including Insurance, Enterprise & Financial Services

The City of Manchester has long been a major business hub for the northwest region of England and has been based traditionally on such sectors as cotton, coal and banking. The city remains the commercial and cultural centre of the region, and hosts much of its retail and office space and many of its heritage centres.
The majority of the tallest buildings and high rise structures in Manchester are commercial or business premises, and most major national and international corporations have branches or headquarters here.
The Co-operative movement has made its home and headquarters in the city and has delivered extensive new office spaces and retail facilities. From the mid-19th century major banking institutions were established or moved into the city, including Heywoods Bank, Rothchild's, Coutts and the Bank of England, as well as investment bankers and venture capital providers, contributing to the city's status as a major international commercial and business centre.
* In a poll of British business leaders published in 2006, Manchester was regarded as the best place in the UK to locate a business. In 2010 it was ranked the second-best city in the UK to locate a business, and the twelfth-best city in Europe. A report commissioned by Manchester Partnership, published in 2007, showed Manchester to be the "fastest-growing city" economically and the third most visited city in the United Kingdom by foreign visitors.

Major commercial, business and industrial companies located in the Manchester conurbation include the BBC (formerly in its northern headquarters at Oxford Road), now in a major new development and relocation to Media City in Salford Quays. Others include Direct Line Insurance, Guardian Media Group, the Highways Agency, ITV Granada Studios, Kellogg's Company, BAE Systems, Siemens, the RAC and Royal Bank of Scotland, among many others. All in all, Manchester has demonstrated that it is an excellent place to set up or to relocate business.

Manchester Bank Bank of China in Manchester Barclays Bank, Manchester Co-op Bank Manchester

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Business & Financial Services by Borough

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Banking in Manchester

There are more than 60 banking institutions in the City of Manchester, (including some 40 from overseas), bearing witness to the boast that Manchester transacts more international finance than any other region in the country. For example, the Bank of England maintains its largest regional office in Manchester and the Co-operative Bank and Davenham's merchant bank have headquarters in the city.
There are over 15,000 people employed in some form of banking in the city of Manchester. Of these, the Co-operative Bank is commonly regarded as the most "modern" of banks in the United Kingdom and it commands respect throughout the world. It virtually dominates local authority financing in Britain, particularly in handling accounts for secondary and higher education.
The Co-op is regarded as a most ethical bank, and has set a standard which the other banks are beginning to emulate.
All the major clearing banks are represented in Manchester, of which Barclays, HSBC, NatWest and the Royal Bank of Scotland are most well known. ABN-AMRO and the Hong Kong and Shanghai Bank are Manchester's two biggest overseas banks, covering the whole of Northern England and Scotland from their Manchester offices, the former focusing on larger companies, the latter on traders and import-exporters.
One of the two Japanese banks in the city, Fuji Bank, specialises in financial services, and there are half a dozen merchant banks in the city with clients nationwide.
Rothschild's, before moving to London, began life in Manchester. The banks arrange a wide range of services from privatisation and floatation to commercial banking and international treasury consultancy.
Quite apart from the bigger national banks, private banks are continually increasing in number in Manchester. In 1993 Coutts, the Royal bankers, set up in the city and the Midland Private Bank recently announced plans to begin operations in the North West.

Acknowledgement: * Some of the information on this page was sourced at Wikipedia (www.wikipedia.com).

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Copyright © John Moss, Papillon Graphics AD 2013 Manchester, United Kingdom - all rights reserved.
This page last updated 5 Sept 12.