When discussing financial services within the UK, it’s undeniable that London stands at the forefront, followed by Birmingham and Manchester.
However, there’s a third tier of cities where Cardiff proudly holds its ground alongside Glasgow, Edinburgh, and Leeds. In this league, Cardiff distinguishes itself with particular strengths in insurance and mortgage intermediation.
At The Cornerstone Finance Group, we can clearly see how Cardiff excels in this sector. We’ve chosen to headquarter our business here in Cardiff, where we currently employ 30 staff. This core team supports more than 150 appointed representatives spread across the UK – a number which is quickly growing. They bring with them knowledge and experience on everything from commercial property finance to mortgages, protection and insurance.
We chose Cardiff because we knew we had access to the knowledge, skills and, crucially, the experience we needed on our doorstep. In this respect Cornerstone is a great example of both the capability and the reach of Welsh financial services.
Additionally, South Wales is home to some key players in banking. Hodge Bank, for instance, has made significant inroads within specific markets, particularly buy-to-let, positioning itself robustly. Similarly, the Principality Building Society is a strong brand that extends its influence beyond Wales, reinforcing the region’s financial clout.
The Development Bank of Wales, through FW Capital, also exemplifies this outward-looking approach, making substantial impacts across the UK. This ability to reach beyond Welsh borders is crucial for the sector. It highlights the importance of not being insular but rather, offering something of national – even international – relevance.
A prime example of this outward-looking success is Gambit Corporate Finance. Their work reflects the strength of Welsh financial services and the importance of fostering connections beyond our regional borders. These connections and the reputation they build are vital for the continued growth and recognition of our financial services sector.
In essence, the strength of Wales in financial services lies in our ability to punch above our weight. We may not match London, Birmingham, or Manchester in size, but in terms of capability and reach, we stand strong.
By fostering key industries like insurance and mortgage intermediation and ensuring our financial institutions are outward-looking, we continue to build a sector that is dynamic, robust, and nationally significant.
