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US financial firms pledge £1.25bn to UK ahead of Trump's visit
The UK government has announced more than £1.25bn in private US investment in the UK's financial services sector ahead of US President Donald Trump's second state visit.
The new US investments are expected to create 1,800 jobs and boost benefits for millions of customers across the country, the UK government said. The deal secures £20bn in trade between the two nations - including an expected £7bn commitment from BlackRock, the world's largest asset manager.
It is set to deliver more than £8bn in investment and capital commitments to the UK, with over £12bn flowing in the other direction - creating jobs and opportunities on both sides. Other companies expected to invest include PayPal, Bank of America, Citi, and S&P Global.
Bank of America will create up to 1,000 new jobs in Belfast as part of its first-ever operation in Northern Ireland, the government said. Citi plans to invest £1.1bn across its UK operations, while S&P Global will create 200 permanent jobs in Manchester through a £4m investment.
"Strengthening ties with the US boosts our economy, creates jobs, and secures our role in global finance," Business and Trade Secretary Peter Kyle said. "These investments reflect the strength of our enduring 'golden corridor' with one of our closest trading partners, ahead of the US Presidential State Visit." Chancellor of the Exchequer Rachel Reeves said that the commitment from America's leading financial institutions "demonstrates the immense potential of the UK economy.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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