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The Northern Powerhouse
North West Financial
Centre of Excellence
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gov.uk/ukti
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Welcome to the
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North West
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The North West, including the three
cities of Chester, Liverpool and
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Manchester, is one of the UK’s leading
regions for Financial Services.
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The region is a particular centre of
excellence for Banking, General
Insurance, Wealth/Asset
Management, Legal Services
and Accountancy. Within the three
areas, there are over 5,000 financial
services firms employing over
227,000 people.1 1
TheCityUK, 2014
3 The Northern Powerhouse - North West Financial Centre of Excellence
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Chester, Liverpool and Manchester form a
thriving business region, with almost 2.5
million economically active people
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working within the three city areas.3
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The North West is sufficiently far from 5,000
London so that wage inflation and Financial service firms within
the three city areas.1
attrition levels remain stable. With typical
cost savings of 30-40%, it is the ideal
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complimentary location to London.
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Underpinned by excellent transport £31.7bn
infrastructure, an established business GVA for Financial, Professional and
Business Services in the North West2
services community and an extensive
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talent pool, the region is a compelling
magnet for inward investment. From the
unspoilt beauty and rolling landscapes of
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Cheshire to the vibrant cosmopolitan
areas of Manchester and Liverpool, the
2.5m
Economically active people within
region offers diverse business locations
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the three city areas.3
and first class quality of life.
227,300
People employed in the Financial Services sector4
1
ONS Annual Business Inquiry 2015
2
Greater Manchester Forecasting Model, 2014
3
ONS Annual Population Survey, 2015
4
TheCityUK, 2014
gov.uk/ukti 4
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Financial Services in
the North West
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The North West — comprising the core cities of Chester,
Liverpool and Manchester – is home to some of the largest
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Financial Services operations in the UK outside of London.
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BNY Mellon, BAML/MBNA, RBS, Barclays The North West has significant strengths
and Santander have all chosen the North in Financial Services. Chester is home to
West to locate significant functions. For large back-office and technology
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companies looking to nearshore operations, operations including BAML/MBNA, while
the region provides a high quality, low risk Liverpool is an established centre for
solution to improve operational efficiencies banking, wealth and asset management
and client service delivery. and a specialist in maritime insurance.
All elements of the sector are represented
at scale in Manchester from retail banking
and legal services to corporate finance
and general insurance.
5 The Northern Powerhouse - North West Financial Centre of Excellence
Manchester
Manchester has a highly evolved
Financial, Professional and Business
Services sector that accounts for 20%
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of the local economy1 with key
strengths in Banking, Insurance,
Legal Services, Accountancy and
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Consultancy. All elements of the
sub-sectors are represented at scale
and depth, giving companies
excellent access to experienced staff
meaning that Manchester is able to
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support a range of functions. Manchester now has a significant talent
KPMG have ranked Manchester as M pool in higher value areas of finance such
Europe’s most cost-competitive business as Derivatives, Complex Client Servicing,
location (in cities with a population over Recovery and Resolution Planning with
2 million) since 2010.2 The size of many EMEA and Global Heads of Business
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Manchester’s talent pool, both from the based in the city. Manchester has already
existing workforce and emerging student proven itself to be a highly attractive
pool, means companies are able to place to live, work, visit and invest,
upscale operations in short timescales, at meaning that it can attract senior talent
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minimum cost. Wage inflation and from across the globe as well as the
companies that employ them.
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attrition levels remain stable even with a
significant number of new investors A number of banks have their head office,
entering the market in recent years. regional offices or European operations
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Over the last 10 years, the sector has centres in Manchester, with this area
grown by 50%3 and moved higher up the growing notably over the last decade. The
value chain in terms of the complexity of Co-operative Bank is headquartered here
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roles. Key developments such as the new and major banks such as Barclays, RBS
Financial and Professional Services and HSBC have their northern
district Spinningfields, have been a huge
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catalyst in driving forward growth in the
sector. The area now employs over
20,000 people and continues to grow.
1
New Economy One of the largest FPS sectors
2
KPMG outside of London4
3
New Economy 2013
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TheCityUK, 2014
gov.uk/ukti 6
headquarters in the city. Challenger Banks
such as Williams & Glyn, OakNorth and
Aldermore have also established major
operations in Manchester and the city is
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emerging as one of the nearshore
locations of choice for many companies
relocating functions out of London.
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Manchester also has a strong offering in The Financial Services sector in
private banking, wealth and asset Manchester will create an
management. There is also a large additional 63,000 jobs between
now and 20245
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presence of investment management
front office and operational functions.
Manchester is an important centre for
corporate finance and private equity,
particularly in the mid-market. The city
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is home to 20 private equity firms, one
of the largest concentrations outside
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of London.
Manchester has a long history as a key
Manchester’s Financial Services
location for insurance and its related
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sector has grown by 50% over the
industries. The sector is home to one of last decade6
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the largest general insurance
communities outside London and a
growing broker base with key employers
including Aon, Marsh and Swinton.
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There are a significant number of life
insurance companies and mutuals, as
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well as a strong intermediary sector.
Manchester’s ground-breaking devolution
agreement with central government,
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7.2 Million people live within an
grants the city control over key facilitators hour’s commute of Manchester
of business growth such as skills, city centre7
transport and business support, enabling
Manchester to create a unique pro-
business environment for employers.
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Greater Manchester Forecasting Model 2014
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New Economy 2013
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NOMIS 2015
7 The Northern Powerhouse - North West Financial Centre of Excellence
CASE STUDY - BNY Mellon
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BNY Mellon is a leading investment
management and investment services
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bank clients a comprehensive suite of innovative
products and consultative services. These include
basic foreign exchange, customized multi-
company operating in 35 countries and
over 100 markets, with over 49,000 staff currency hedging and yield-enhancing strategies,
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worldwide. The group provides asset and as well as a full range of currency, equity and
wealth management, asset servicing, interest rate derivatives products.
issuance services, advisory services and
Client Service Delivery - CSD encompasses key
treasury services through a worldwide,
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operational areas into one global team to better
client-focused team.
support the group and serve clients around the
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BNY Mellon Manchester is one of the world. CSD helps clients conduct business, service
company’s key locations and is viewed as a hub assets, and engage in transactions at every stage
for operational and client service excellence. of the investment lifecycle - creating, trading,
The company have enjoyed incredible success clearing, settling, holding, servicing, managing,
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in Manchester thanks to the quality of the city’s distributing and restructuring assets.
talent pool which has helped build a location
Business Partner Group - Employees in these
capable of providing their global client base
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departments include: Finance, Information
with consistently high levels of service. The
Technology, General Services and HR. Additionally,
organisation now has over 200 managers,
Manchester has employees working in Client
some of whom joined the company straight
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Technology Solutions and Investment Services
from college six years ago. Established in
2005, the operation employs around 1,200 “We’ve been a significant part of how Manchester
employees working across two city centre has developed over the last 10 years and are proud
locations in areas including: to be invested in it. The city unquestionably has a
talented workforce with the right mix of digital
Global Markets – Specializes in an array of
skills and financial services experience.”
value-added global risk management solutions
offering investor, corporate and correspondent Matt Wells, Manchester Site Head
gov.uk/ukti 8
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Liverpool
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Liverpool has been doing business with Multi-national names such as Santander
the world for over 200 years and has and Investec are based in Liverpool
developed deep and lasting partnerships
in markets across the globe. It has a
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alongside Pershing BNY Mellon,
Coutts & Co, Deloitte, Tilney Bestinvest
reputation as a city that you can trust. and many more.
Liverpool has developed a wealth of
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experience in providing business and Investing in Liverpool is as safe a
financial services – with specialist skills in proposition as ever. Liverpool is renowned
insurance, wealth management and legal. as a business and financial services centre.
As a result, Liverpool is a significant UK
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The strength and depth of Liverpool’s
centre for asset and wealth management. financial and business services industry
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has always been the cornerstone of the
Liverpool has more than 500,000 regional economy.
businesses within 1.5 hours of the
city centre, creating a huge range of More than 10,000 businesses
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potential business opportunity.1 contribute their wide range of skills
to a dynamic, thriving city region.3
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Close proximity to London, and easy
access to European business destinations Liverpool has the talent
makes Liverpool the perfect location from
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which to access local, UK and Access to skilled people is one of the core
international markets. strengths of Liverpool. With a working
population of just over 1 million4,
Commute catchment of companies locating in the city can
6.2 million people2 access a considerable pool of labour.
ONS 2015
1 ,2
3
BRES 2014
4
East West 2015
9 The Northern Powerhouse - North West Financial Centre of Excellence
CASE STUDY - Pershing BNY Mellon
Liverpool as a business hub - our
The business services sector perspective
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currently employs over 47,000
in Liverpool4 “As a BNY Mellon company, Pershing
benefits from the strength and stability of
234,000 people of working age are a premier global provider servicing more
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educated to degree level in Liverpool.5 than 100 markets. We have offices in 23
The city’s universities have significant locations throughout the Americas, Asia
research expertise which is ranked at Pacific and Europe and employ thousands
a high international standard. of professionals who are highly focused on
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supporting the needs of our clients.
Liverpool is delivering results Serving 1,600 institutional and retail
financial organisations, Pershing is a
The large employment pool has attracted
a significant number of business process
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exchange, the Australian Stock Exchange,
outsourcing and asset servicing operations. the Deutsche Börse, the Irish Stock
Exchange, the London Stock Exchange and
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ServiceSource, Wealth at Work and many
the Toronto Stock Exchange. 100,000
others have chosen to locate in Liverpool
professionals use our technology platform
because of the cost-effective local
for broker dealers and advisors.
workforce with their expertise in business
Pershing provides investment service
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support and financial services.
solutions to institutional broker dealers,
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wealth managers and independent
financial advisers. Located across London,
Liverpool, Dublin and Jersey, Liverpool is
the flagship operational centre. Accredited
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a ‘Centre of Excellence’ within BNY Mellon,
210 employees located to new offices in
The Royal Liver Building.”
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“So why is Liverpool good for us? It has a
deep talent pool — 4 top universities and
feeder schools, a strong Wealth
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Management heritage and tradition, and an
energised, committed, innovative and loyal
team from a skilled and qualified resource
pool.”
Peter Norman, Managing Director,
Operations.
4
BRES
5
Annual Population Survey ONS 2014
gov.uk/ukti 10
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Chester
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With its distinctive Tudor architecture, the Attracted by the quality of life, MBNA
historic city of Chester has always were one of the first occupants of Chester
attracted businesses looking for
something a bit special. From the Roman
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Business Park over 20 years ago. Since
then, the business has grown from one
walls to the River Dee, the city is a building to a 25 acre campus, becoming
beautiful place to live and work. one of the city’s major employers and
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cultural sponsors.
Chester supports an established
community of Financial Services In 2006, MBNA became part of Bank of
businesses. After Bank of Scotland America, who recognised Chester as one
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acquired the small Chester finance of the most productive sites within the
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house North West Securities (NWS) in corporation. The site was chosen as the
1958, the business became one of their location for their Global Operations
most profitable arms. Now part of Lloyds Centre, employing 80 staff who monitor
Banking Group, this operation and the and support the banks technology
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legacy of NWS has provided the basis infrastructure around the world,
for Chester’s cluster of financial around the clock.
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services companies.
“In Chester we operate from a very
NWS provided the infrastructure for the efficient cost base. We have access
first Marks and Spencer store card to a significant labour pool with a
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launched in Chester in 1985 by St Michael relevant and consistent skills base”
Financial Services. The partnerships have
changed as the company’s financial brand Mark Elliott, Director of Corporate
has developed and M&S Bank is now a Affairs, MBNA
joint venture with HSBC.11 The Northern Powerhouse - North West Financial Centre of Excellence
Cybersecurity specialists GBG employ “Chester Business Park is home to
200 people at their headquarters in several key financial services
Chester. Their neighbours at Chester businesses and has a history in the
Business Park include payment solutions sector. We have been able to take
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provider Tuxedo Money Solutions and advantage of that talent in setting
vehicle finance company Next Gear up our business and we feel very
Capital. These head office functions optimistic about our future plans in
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sit alongside back office operations for the city”
large companies in other sectors, such
as Bristol Myers Squibb and Tetrapak. Richard Law, CEO, GBG.
Meanwhile, the redevelopment of Chester’s
"We are delighted to relocate to bigger
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Central Business Quarter has begun with
1, City Place, a 70,000 sq ft BREEAM offices in Chester. As this is home to
excellent HQ building with further office several key financial services
and residential phases to come. businesses and has a history in the
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sector we have been able to take
M&S Bank employ over 1,500 people in advantage of available talent and
customer-facing roles, supporting current networks in our growth plans. We feel
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accounts, credit cards, travel money, loans, very optimistic about our future plans
savings and insurance products. in the city"
John Sharman, CEO, Tuxedo Money Solutions.
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“We have been able to call upon the
strong financial services skill base
in Chester to set up the business in
record time”
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David Mercer, Managing Director,
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NextGear Capital
“We are very excited to be in
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Chester. It is a beautiful historic
city with a strong reputation for
financial services. The city is a
great base for our operation as
we will be able to grow and
develop here”
Will Loughnane, Director of Business
Insights, Virgin Moneygov.uk/ukti 12
CASE STUDY - BAML /MBNA
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With more than one eighth of the market, “Chester is a Financial Services Centre of
MBNA is one of the UK’s largest credit card Excellence with a strong record of attracting
and reward card issuers. MBNA became the key firms including Lloyds Banking Group,
credit arm of Bank of America in 2006 and RBS, M&S Bank and Virgin Money.”
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Chester’s continuous good performance He added, “We could not operate without
meant that it was chosen as the location of the network of local Business Support firms
the bank’s Global Operations centre which on our doorstep. Right from the time of
opened in 2013. arrival in Cheshire until today, we have
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MBNA opened its first office at Chester benefitted from the support and
Business Park in 1993. Having outgrown encouragement of local organisations, both
their original building, the company in the public and private sector“
expanded into a versatile campus with four
interconnected buildings and a wide range
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“I have lived all over the UK and I am deeply
impressed by the quality of life. The region
of facilities. Today there are around 2,500 is blessed with rich cultural life, a strong
employees in Chester, the majority providing
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education sector and beautiful countryside
back office functions supporting MBNA’s as well as a very sophisticated retail offer
affinity cards. and excellent transport links to Liverpool,
BAML also employ 750 staff, carrying out Manchester and the rest of the UK.”
commercial and investment banking
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Mark Elliott, Director of Corporate Affairs
settlements and have the Global Operations
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Centre. This ‘command centre’ monitors IT
systems and provides technical support
around the world, 24 hours a day.
MBNA’s Director of Corporate Affairs, Mark
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Elliott, acknowledges several factors were
key to BAML’s commitment to the site. “In
Chester we operate from a very efficient
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cost base compared with South East
England. We have access to a significant
labour pool with a relevant and consistent
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skills base.”
“To be able to operate effectively, BAML has
to be able to rely on excellent transport links
that enable it to access talent pools across
the wider region.”13 The Northern Powerhouse - North West Financial Centre of Excellence
North West - Key Employers
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M65
16
M66
Southport
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M62
M61
46
M6
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15 MANCHESTER
14 20
34, 35, 36,
M57 M62
LIVERPOOL 30
M M60 37, 38, 39,
17, 18, 22, 19 21 40, 41, 42,
28 29 43, 44, 45,
23, 25, 26,
M53 24 32 46, 47, 48,
27, 31, 33
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49, 50,
51, 52
13
11
10 12
9
M56
n
CHESTERM6
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CHESTER
1, 2, 3, 4, 5,
6, 7, 8
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Chester Liverpool 27. Quilter Cheviot 39. Santander
1. BAML/MBNA 14. Santander 28. Investec 40. Lloyds Bank
2. M&S Bank 15. Shop Direct Financial 29. Tilney Bestinvest 41. Investec
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3. GB Group Services 30. Williams & Glyn 42. Swinton
4. NextGear Capital 16. Paymentshield 31. Fraser Wealth 43. Aon
(Insurance) Management
5. Tuxedo Money 44. Marsh
17. Rathbones
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Solutions 32. Bibby Financial 45. Willis
6. Diners Club 18. Pershing BNY Mellon Services
46. AXA
7. Funding Corporation 19. Barclays 33. Lloyds Banking Group
47. RSA
8. APS Group 20. Barclaycard Manchester
48. Williams & Glyn
9. Lloyds Banking Group 21. RSA 34. Co-operative Financial
Services 49. Aldermore
10. Virgin Money 22. Griffiths & Armour
35. BNY Mellon 50. OakNorth
11. Ingenico 23. Deutsche Bank
36. RBS 51. Aviva
12. Payzone 24. Coutts
37. Barclays 52. Ageas
13. Barclays Radbroke 25. HSBC
26. MSIF 38. HSBCgov.uk/ukti 14
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Talent pool and Education
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7.1 million The significant talent pool, combining
existing expertise and a continuous supply
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people live in the North West 1
of quality graduates, gives businesses a
means to establish new operations quickly
and develop the workforce over time. The
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supply of labour both in scale and depth
4.5 million also keeps wage inflation low.
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people are of working age 2
66%
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2.35 million of students studying in the North West
people hold Level 3 qualifications remain in the region after graduation ,
ensuring a healthy pipeline of top talent.4
or above. 3
1
NOMIS 2014 3 Annual Population Survey 2014
2
NOMIS 2014 4 HECSU 201515 The Northern Powerhouse - North West Financial Centre of Excellence
There are fourteen universities in the North West with over 226,000
students studying in the region. In the academic year 2013-14, the North
West's universities produced over 48,000 graduates.5
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10
8
20
IRISH SEA Blackpool
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Preston
3
7
M Southport
12 Bolton
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4, 5, 6 MANCHESTER
LIVERPOOL 11, 13
1, 2, 14
Warrington
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20 km
CHESTER
No. University Graduates No. University Graduates
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1 Manchester Metropolitan 7,775 8 University of Lancaster 2,845
University
9 University of Chester 2,320
2 University of Manchester 7,425
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10 University of Cumbria 1,925
3 University of Central Lancashire 5,585
11 Liverpool Hope University 1,350
4 Liverpool John Moores University 5,260
12 University of Bolton 1,240
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5 University of Liverpool 4,905 Liverpool Institute of Performing
13 225
6 University of Salford 3,925 Arts
7 Edge Hill University 3,455 14 Royal Northern College of Music 150
5
HESA 2014gov.uk/ukti 16
North West Universities
Business & administrative Mathematical Computer
studies sciences sciences
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Students Graduates Students Graduates Students Graduates
32,675 7,505 4,670 1,145 6,880 1,455
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Source: HESA 2014
University of Liverpool Liverpool John Moores University
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Preparing the younger workforce, the Liverpool John Moores University is
University of Liverpool (part of the Russell home to the Research Centre for
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Group) delivers an E-Finance BSc Hons Critical Infrastructure Computer Technology
through the Liverpool Management and Protection (PROTECT). The Centre
School, whilst the region’s Higher provides PhDs and research in safeguarding
Education colleges take in around 700 systems against attacks, networking to
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students each year on courses relating to support systems’ distributed operations
financial and professional services. and software engineering/artificial
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intelligence in systems. The Hartree
Centre at Sci-Tech, Daresbury also offers
access to the UK’s largest super-computer
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for “big data” analysis.
University of Chester
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The University of Chester is a founder
member of the Cheshire and North West
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Cyber Security Advisory Group. The Group
works with schools on digital identity and
with businesses around insider threats and
cybersecurity toolkits. Headed by Sir
Edmund Burton, leader of the Information
Assurance Advisory Committee, members
include KPMG and the University of
Lancaster’s Centre of Excellence.17 The Northern Powerhouse - North West Financial Centre of Excellence
To keep Chester’s supply of skilled labour The Business School is the only public
buoyant, the University’s Business School sector Association of Chartered Certified
delivers an innovative Business Masters Accountants (ACCA) Platinum Approved
qualification, a one year course centred Learning Partner in the North of England
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around work-placement based learning. and also offers the CIMA (Chartered
The Business School also develops Institute of Management Accountants)
bespoke work-based learning, for example Award.
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delivering an accredited course for over
150 employees at the Department for Work University of Manchester
and Pensions. New “higher level
apprenticeships” are being rolled out in the The University of Manchester is a world-
leading institute, ranked 33rd globally by
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coming year, starting with Chartered
Management, which can be funded. QS World University Rankings and is the
most targeted UK University by graduate
The University of Chester and MBNA M employers, according to the 2015 High
worked together to develop the Chester Fliers Report.
Business Masters, a work-based
qualification helping employees gain In 2014, the Research Excellence
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analytical and consultative skills. MBNA Framework (REF) found that 83% of the
advertised posts for Business Risk Analysts University’s research was judged to be
with an embedded Master’s degree. Having ‘world leading’ or ‘internationally excellent’.
received over 1,500 applications, the The REF also ranked Alliance Manchester
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company was able to recruit six graduates Business School (MBS) 2nd in the UK for
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into the team. research power.
The university offers a Finance MSc course
covering areas such as derivatives and
Manchester Metropolitan
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investments, to mergers and acquisitions
University and global markets. Students enrolling in
the program build a strong foundation of
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Manchester is home to the two most advanced investment analysis and real-
applied-to universities in the UK1 and has world portfolio management skills.
one of the largest student populations in
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Europe with 96,000 students currently Each year, Alliance MBS runs a five-day
studying in Greater Manchester. Trading BootCamp for students studying
Manchester Metropolitan University’s finance-related degrees. These trading
Business School is the UK’s second largest simulations provide students with
Business School with 5,000 students, experience of real world trading and the
offering Undergraduate, Postgraduate, opportunity to engage with contemporary
Professional and Research Programmes.
UCAS 2014
1gov.uk/ukti 18
financial markets, enabling students to University of Lancaster
apply their classroom theory into practice.
To deliver the Trading BootCamp, the The University of Lancaster has recently
School has teamed up with Amplify been awarded the highly prestigious status
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Trading, a global financial trading and of an EPSRC-GCHQ Academic Centre of
training firm, which offers training to some Excellence in Cyber Security Research.
of the world’s largest financial institutions. Their Cyber Security MSc combines
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They have developed specialist software advanced technical skills with disciplines
that enables students to experience a live such as Economics, Risk Management,
trading floor and two experienced traders Psychology and Social Science to provide a
deliver the week-long training. multidisciplinary approach to educating
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the next generation of security specialists.
The School of Computer Science is rated
9th in Europe2 and is leading in a number
of research areas such as Data Analytics
and Cyber Security with many banks
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employing penetration testers straight
after graduation to test the resilience
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of their firewalls.
75.7% of students from the University of
Manchester, a Russell Group university,
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graduate with a 2:1 or First Class degree.3
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QS, 2015
2
The Complete University Guide, 2014
319 The Northern Powerhouse - North West Financial Centre of Excellence
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Digital Connectivity
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The North West has a world-class digital infrastructure,
able to meet the demands of companies operating within the
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financial services sector, from a resilience, security and low
latency perspective.
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Being at the northern point of all of the UK’s network Internet Exchange. The region’s
fibre rings, the region has access to a wide suitability as a destination for high speed voice
range of internet transit and upstream and data traffic is strengthened by the arrival
bandwidth providers. There are excellent fibre of a direct transatlantic link.
networks to the rest of the UK, Europe and
North America via the Hibernia Atlantic cablegov.uk/ukti 20
Liverpool can offer world-class connectivity Liverpool and Greater Manchester are two of
and resilience, with some central locations the UK’s first Super-Connected Cities,
offering up to 100 Gbps connections, and announced by the government in 2012 to
access to a Tier Three datacentre to give bring ultra-fast broadband to key UK
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businesses world-class digital infrastructure. locations. The scheme is administered by
local authorities and funded by central
Manchester is home to one of the
government. It brings the fastest internet
most advanced and competitive
speeds within the reach of smaller
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telecommunications and internet
organisations, which may not previously
infrastructures in Europe. MediaCityUK in
have been able to afford to upgrade. Nearly
Salford is Europe’s first purpose-built business
2,000 small businesses, charities and social
hub for the creative and digital industries and
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enterprises in Manchester alone have gained
the first shared media infrastructure in the
grant funding of up to £3,000 for a superfast
UK. It is also the location for The Landing, a
or ultrafast broadband connection.
brand new, state of the art research & M
innovation centre designed to stimulate the
development & application of new ideas.
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IX Manchester, one of the UK’s strongest
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International Internet Exchanges, has
enough spare capacity to route all the
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internet traffic in the UK should the main
peering point, Telehouse in London
Docklands, fail. This puts the region in a very
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strong position for companies looking for a
digital infrastructure which is able to meet
even the most demanding requirements.21 The Northern Powerhouse - North West Financial Centre of Excellence
Connectivity
The North West has a world-class transport Strong road, rail and air infrastructure enable
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infrastructure which provides excellent easy connectivity both within the region and
regional, national and international further afield.
connectivity. Employers in the North West are
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able to source talent from a large labour pool Road Links
and the planned investment in transport With over 200 miles of motorway, locations
infrastructure projects such as HS2, HS3 and in the North West are easily accessible and
Northern Hub will exponentially increase this
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drive times to London are under 4 hours.
catchment area in the coming years. Upon
completion, the North West will be at the
heart of a vastly improved transport network M
that will add additional capacity and reduce
journey times between cities.
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Internationally, ongoing route development
through the airport is also increasing
connectivity to global markets like China and
India, complementing already well-serviced
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destinations in EMEA and the USA.
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Local Road M6
Network
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A1(M)
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M55 M1
Preston M621 A1(M)
M65 M62 M62 M62
M62
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Southport M66
M62
M61
Bolton
M6 M1 M18
MANCHESTER
M57 M60
LIVERPOOL M62
A1(M)
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M56
M6
CHESTER M1gov.uk/ukti 22
Rail Links Air Links
The region is well connected by train; local Liverpool John Lennon Airport and
and regional railway infrastructure is quick Manchester Airport fly to over 260
and efficient. destinations in the UK, across Europe
and worldwide.
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Frequent services also run between the core
cities and London, enabling travel into the Chester Hawarden Airport offers corporate
capital in just over two hours. services nationally. Between them,
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Manchester and Liverpool offer flights to
Rail connections are currently being upgraded the majority of European capital cities.
through the Northern Hub development and Multiple daily services from Manchester
are due for completion in 2019. connect the region to numerous
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destinations further afield, including direct
Northern Hub: flights to major financial centres including
New York, Hong Kong, Singapore and
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£560 million 700 extra daily Frankfurt. Direct flights to Beijing from
scheme trains Manchester were announced in 2015.
£
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40% increase in 3.5m extra
services passengers per
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year
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LIVERPOOL MANCHESTER
60 destinations
Road and Rail
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200 destinations
CHESTER Connections
BIRMINGHAM M6
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120 destinations
M1
RAIL ROAD
London - Chester 2hr London - Chester 3hr 46min
- Liverpool 2hr 14 min - Manchester 3hr 48min
- Manchester 2hr 07min - Liverpool 3hr 54min
LONDON23 The Northern Powerhouse - North West Financial Centre of Excellence
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Lifestyle
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The North West is a diverse region offering For employers, this ability to attract talent,
both the tranquillity of the countryside and and the lower cost of living, means salaries
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miles of coastline as well as diverse remain competitive and operational
international cities. Picturesque, yet costs low.
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affordable housing lies within a 20 minute
drive of major metropolitan areas, where
residential property is competitively priced.
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The North West’s strong quality of life offer
means that it is excellent at attracting and
retaining top global talent.
Major investment has led to a surge in
population over the last decade with
individuals attracted to the region for its
strong retail, leisure and cultural offering
whilst still maintaining its affordability.gov.uk/ukti 24
Quality of Life
In Rightmove’s 2015 “Happy At Home” UK’s top shopping destinations. Liverpool
index, Chester was named the fifth ONE, right in the heart of the city, is an
happiest place to live in Britain. Factors extensive, open-air shopping district that
contributing to this high rating were the is home to more than 160 famous high
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communities, shopping and scenery, street and designer names, from John
as well as attractions such as Chester Lewis to Zara, designer favourites Ted
Zoo, which is visited by nearly 1.5 million Baker, Reiss, Hobbs classic womenswear
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people per year. Budding astronomers can and the only Beauty Bazaar Harvey
stargaze at Jodrell Bank, home of the UK’s Nichols in the country.1
largest radio telescope.
Outside the city, there are high quality living
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In 2015, Manchester was named among choices from thatched cottages to leafy
the world’s most liveable cities by the green suburbs and coastal retreats within
Economist Intelligence Unit, ahead M
easy commuting distance of the region.
of London, New York and Singapore
for the fourth year running based on
factors including culture, infrastructure Education
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and education. The Sunday Times Best Schools list
Manchester has a strong retail, leisure and includes many top performers across the
cultural offering. In 2015, this was further North West, from Liverpool’s Blue Coat,
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strengthened by HOME, a multi-arts centre Kings and Queens Schools in Chester, to
including a 500 seat theatre, 5 cinemas, Manchester Grammar School and
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art galleries, bars and restaurants. Chetham’s School of Music.
The recently reopened Whitworth Art Schools across the Liverpool City Region
Gallery was awarded the Art Fund Prize are gathering a national reputation,
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for Museum of the Year 2015 and the performing consistently well in league
city also has numerous theatres and tables. 42 schools and 29 pre-prep/prep
galleries. Manchester city centre offers
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providers across Merseyside and Cheshire
first-class shopping opportunities have been classed as “outstanding” in the
from high end retailers such as Harvey annual report of Her Majesty’s Chief
Nichols to Selfridges, to an eclectic mix of
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Inspectors of Schools.
independent and vintage boutiques in the
Northern Quarter. Manchester has a very strong education
offering for early years, prep, middle and
Liverpool offers a wide range of housing secondary education. Greater Manchester
options to suit all tastes from City Centre has 29 of the top selective, private and
living on its magnificent waterfront, state schools and 38 of the top primary
to delightful Georgian and Victorian schools in the UK according to the
architecture. Liverpool city is one of the Sunday Times.
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Harvey Nicols 201325 The Northern Powerhouse - North West Financial Centre of Excellence
Outdoor Activities
For a breath of fresh air, Cheshire has
beautiful countryside walks such as The
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Sandstone Trail, with the Lake District,
Snowdonia, and Derbyshire’s Peak District
all within 90 minutes’ drive of the region.
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MMusic
Both Liverpool and Manchester have
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Sport world-renowned musical heritage. The
Royal Liverpool Philharmonic Orchestra
Sport is another of the region’s passions and the Hallé Orchestra in Manchester are
with Everton, Liverpool, Manchester City complemented by the rich tradition of pop
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and Manchester United Football Clubs’ music spanning the decades from The
supporters spanning across the globe. Beatles to Oasis. Liverpool has been named
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The world-famous Grand National a UNESCO City of Music. This accolade
Steeplechase takes place at Aintree means that Liverpool joins a small and
racecourse, while Chester has the oldest select band of cities across the world able
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racecourse still in use in England, dating to use the title. It is only the second UK city
back to the early sixteenth century.1 to be given the status, following Glasgow.
Cricket fans can watch the Ashes and
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international test matches at Old Trafford.
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Source: VisitChester19
gov.uk/ukti
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UKTI
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© Crown Copyright 2015
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Licence v3.0 except where otherwise stated. To view this licence,
visit nationalarchives.gov.uk/doc/open-government-licence/version/3
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This publication is available at gov.uk/ukti
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Published December 2015 © Crown copyright (2015)
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