The UK is set to sign a multi-billion-dollar tech investment deal with the United States during President Donald Trump’s state visit this week.
Inward investment from US financial giants is to create 1,800 jobs across London, Edinburgh, Belfast and Manchester, according to the UK Government.
Trump flies in for a second three-day state visit on Tuesday.
More than £1.25 billion in private sector commitments from leading US firms — including PayPal, Bank of America, Citi Bank and S&P Global — has been promised.
Bank of America is set to create up to 1,000 new jobs in Belfast, marking its first-ever operation in Northern Ireland — a major milestone that underscores the region’s growing role in global financial services.
Citi Group is investing £1.1bn across its UK operations, including a further commitment to growing its presence in Northern Ireland where the bank is already one of the top employers in Belfast now employing over 4,000 people.
BlackRock is celebrating the opening of its new Edinburgh office this week, which will see an 800-strong footprint nearly double, as part of a multi-billion-dollar investment into the UK.
In Manchester, S&P Global is investing over £4 million into its Manchester offices, which will support 200 permanent jobs to boost its nearly 3,000-strong UK workforce.
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Broadridge is making major investments into its new London office, while PayPal is announcing a £150m investment in product innovations and growth.
Blackrock is expecting to allocate over £7bn to the UK market next year on behalf of clients, and is investing £500m into enterprise data centres across the country.
Rothesay is planning to double its investment in the US (by £7bn) over the next few years, and OakNorth is committing to increased capital and lending of over £3.5bn to support its US operations.
British banks are expanding their US footprint; Barclays alone has deployed over $2 trillion in capital across the US in 2024 and continues to play a pivotal role in strengthening UK-US investment ties. The bank has an ambition to double this amount over the next decade, expanding its footprint and supporting growth across sectors.
Starling Group is investing over $100m over the coming years to unlock growth in its US operations, while digital banking rival Revolut is set to invest over $500m in the United States over the next 3-5 years and Wise is expanding its North American Hub in Austin.
The Government says investment and capital commitments of over £8bn will be coming to the UK, with over £12bn going the other way.
“Today’s announcements reinforce the UK’s position as the world’s leading investment destination. Our financial services sector is at the heart of a modern, dynamic Industrial Strategy,” said Peter Kyle, who was recently moved from Technology Secretary to Business and Trade Secretary in a Cabinet reshuffle.
“Strengthening ties with the US boosts our economy, creates jobs, and secures our role in global finance, delivering on our Plan for Change.
“These investments reflect the strength of our enduring ‘golden corridor’ with one of our closest trading partners, ahead of the US Presidential state visit.”
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