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A new survey of 68 large American companies with more than 275,000 employees in the UK found that companies have “very high†confidence in the UK as a business location. Around 60 percent said they would increase investment in the UK.
Anna Marrs, group president at American Express, said the geographic location and UK time zones make it an “ideal base” for their operations outside of the US.
She said: “The combination of a strong and multilingual talent base, a supportive business environment and geographic and temporal advantages continue to make the UK an ideal starting point for our activities outside the US.”
Dan Glaser, President & Chief Executive of Marsh McLennan, added, “The UK is a large and dynamic economy with excellent regulatory and educational systems.
“Top talents from around the world want to work and live in the UK.”
While Duncan Edwards, CEO of BritishAmerican Business, said the UK is “very well positioned” to attract US companies.
He told the Financial Times: “The UK is very well positioned to continue to attract companies from the US and around the world.
“But that positive outlook is reinforced by a comprehensive trade deal with the US, a more positive political and trade relationship with the EU, and more business-friendly domestic policies.”
Jonathan Frick, a partner at Bain in London, said US investors had kept most of their workforce despite Britain’s exit from the European Union.
READ MORE: EU cracks show up when Brexit meant a huge loss for Sweden
Almost 40 percent of companies said that improving political and economic relations with the EU should be their top priority.
This would allow the UK to maintain its top position as a destination for US investment.
International Trade Secretary Liz Truss is expected to travel to the US this week to meet with officials.
That financial boost comes just months after several banks – including Morgan Stanley, Barclays and Goldman Sachs – pulled senior bankers out of London.
Due to the lack of provisions in the trade and cooperation agreement, these companies went to centers in Frankfurt, Paris and Milan.
Many companies have urged Prime Minister Boris Johnson to sign a financial services agreement with the EU, although Brussels has stalled to put pressure on the UK over elements of the deal.
The UK and EU agreed a memorandum of understanding in March to continue cooperation between financial regulators, but Brussels did not grant equivalence.
The survey was carried out by the US trade association BritishAmerican Business and the consulting firm Bain.
Companies from sectors ranging from financial services and manufacturing to technology, media and telecommunications were surveyed.
