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These investment plans will be a boost for Britain's financial
services sector, beset by rumors of job cuts and firms moving
overseas in the aftermath of Britain's vote to leave the
European Union and potentially surrender some of its access to
EU markets.
The banks are a mixture of UK, European, and non-EU businesses
and have already committed 200 million pounds, PwC said, with
total funding of up to half a billion pounds featured in their
business plans.
Stephen Morse, financial services partner at PwC, said the
around 20 clients investing in Britain were not only mainstream
banks, mortgage lenders and asset managers.
"There are a range of new technology-enabled banks, fintech
businesses, commercial banks and even niche investment banks who
have identified gaps in the market in part caused by big global
banks having pulled out of some businesses over the past few
years," he said.
Since the Brexit vote last week, banks, including Goldman Sachs
<GS.N> and Morgan Stanley <MS.N>, have denied rumors they are
already moving thousands of jobs out of Britain as a result of
the referendum.
(Reporting By Lawrence White. Editing by Jane Merriman)
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