York is one of the key centres of financial and professional services (FPS) employment and enterprise within the Leeds City Region, which itself is the second FPS largest sector in the country. The industry employs 23,000 in the city, the equivalent of 15.8 per cent of its workforce.

York’s high skills base and rich talent pool from the universities and colleges make it an ideal location for FPS firms looking to base corporate headquarters and higher order functions in the city.

As a result the city has seen global insurance firm Hiscox move to new £19 million offices in the city, bringing with it 500 jobs.

The move will add to York’s already thriving insurance sector, with the city homes to Aviva’s UK Life and Pensions business as well as card protection and mobile phone insurance provider CPP based at Holgate Park.

Not only is York well connected to the sector and talent pool across the Leeds City Region, but it also benefits from excellent connections into the wider North Yorkshire sub-region, within which the financial and business services sector has seen the largest increase in jobs in the past ten of any sector in the York and North Yorkshire sub region.

The professional services sector in York is supported by a wide range of organisations offering expertise and networking opportunities.

Alongside the York and North Yorkshire Chamber of Commerce, York Professionals has more than 100 members supporting each other across a range of sectors, while its subgroup Make York supports the city’s young professionals.

The city has a strong accountancy and legal sector, with a number of long-established firms based in the city. It continues to attract firms from outside the region which are keen to establish a base in York.

Last year the city welcomed a new legal office as Andrew Jackson solicitors, which also has an office in Grimsby, opened a new office at The Innovation Centre, within the University of York’s Science Park.

Last year also saw a number of mergers within York’s legal sector.

York law firm Denison Till started December by merging.

The Piccadilly business, founded in York in 1965, became Lupton Fawcett Denison Till after joining forces with Sheffield and Leedsbased Lupton Fawcett Lee & Priestley.

Another deal saw York law firms Ware & Kay and Sykes, Lee and Brydson join forces in a merger deal, while York solicitors Minster Law were acquired by BGL Group as an Alternative Business Structure (ABS), having worked with the Peterborough-based financial services company for the last seven years.

Last year also saw York accountancy firm Barron & Barron merged with Barber Harrison & Platt, an independent firm of chartered accountants and business advisors based in Sheffield.