The UK continues to be Europe’s most attractive location for FDI into financial services, with projects up 16% yoy in 2025, followed by France and Germany.

The UK accounted for almost a quarter (24%) of all European financial services FDI projects in 2025 (just under the 25% recorded in 2024). France moved into second place with 45 projects, strengthening its share of European activity from 10% to 13%, and overtaking Germany, in third place with 25 projects, and a 7% (from 11%) share in activity.

Switzerland ranked fourth with 22 projects (6% of all European projects), and Italy completed the top five with 20 (6% of European financial services activity).

While not in the top five, Luxembourg and Poland recorded their highest number of projects in a decade (18 and 14 respectively).

London has strengthened its position as the leading European city for financial services FDI in 2025, attracting 59 projects (up from 38 in 2024). Paris ranked second with 30 projects (up from 23 in 2024), Milan was third with 20 projects (up from 13), followed by Luxembourg (17, up from 11) and Madrid (15, up from 14).

Martina Keane, EY UK & Ireland financial services leader, commented: “At a time when wider European investment is slowing, it is impressive – though not surprising – that the UK financial services sector continues to attract significant international capital, rooted in its strong governance, world-class talent, and continued investment in technology. 

“The uplift in investment projects in 2025, and the UK accounting for just shy of a quarter of all European FDI, underlines the sector’s resilience in uncertain times, and confirms its position as a priority destination for firms looking to build, scale, and succeed.

“Despite its clear lead within Europe however, competition for inbound investment is intensifying. A 10-year lookback shows that France, Poland and Luxembourg are on strong growth trajectories. Going forward, it’s therefore essential that government, industry, and regulators in the UK continue collaborating to maintain global investor confidence.”