Banking Careers Beyond Capital Cities: Unlocking Talent in Lyon, Manchester, and Edinburgh

For decades, Europe’s financial careers have been overwhelmingly concentrated in capital cities. London and Paris continue to dominate the sector, but a quiet shift is underway. Secondary hubs like Lyon, Manchester and Edinburgh are becoming increasingly credible destinations for ambitious banking professionals – and employers are taking note.

1. Why Regional Hubs Are Rising

Several forces are behind this change. Rising living costs in capital cities have made regional centres more attractive to both employers and employees. Hybrid working has reduced the need for constant proximity to headquarters. At the same time, local specialisms – healthcare and infrastructure in Lyon, fintech and corporate banking in Manchester, and asset-management in Edinburgh – have given these cities an edge.

In the current market climate, the financial sector in Europe is in a particularly favourable phase. For example, the broader STOXX 600 Banks Index (covering European bank stocks) has risen by roughly 73.9% year-to-date in 2025, significantly ahead of U.S. and Asia bank indices. S&P Global Similarly:

• In H1 2025 the European banks index jumped ~51.6 % over six months, versus ~14.5 % for the U.S. banking index. S&P Global
• The broader European equities market: the FTSE Europe Index stood at ~8,576 on 24 Oct 2025, showing steady upward momentum. Investing.com

These strong sector trends make it more plausible for firms to expand outside the capitals—since regulatory capital is solid, investor interest is high, and growth opportunities exist.

2. What Professionals Value

For professionals, regional hubs often provide the best of both worlds. They offer exposure to sophisticated work without the relentless intensity of capital-city deal-making. Better work-life balance, shorter commutes and lower housing costs add to the appeal. For many mid-level professionals with families, these factors are decisive.

That said, ambitious talent still expects progression. Employers in secondary hubs need to demonstrate that careers outside capitals are not second-tier. Structured development programmes, clear promotion pathways and cross-border opportunities are critical to showing that regional roles are stepping-stones, not dead ends.

3. What Employers Must Do Differently

For employers, unlocking regional talent means more than opening an office. It requires investment in infrastructure, visibility, and culture. Firms that succeed treat regional teams as integral, not peripheral. They provide access to high-quality mandates, integrate teams into global networks, and ensure regional leaders have influence.

There is also a branding challenge. Many candidates still see London and Paris as default destinations. Employers must actively communicate the advantages of regional locations, emphasising lifestyle benefits, sector specialisms, and career-growth opportunities.

4. The Arrival of Banking Firms in Lyon

One clear example of this dynamic is the growing presence of banking and advisory firms choosing regional hubs such as Lyon. For instance:

• Croft & Co helped Sevenstones set up a Lyon office in 2022, supporting M&A, growth financing and capital-reorganisation for entrepreneurial and family-run firms. Lyon Place Financière+1
• Additional firms such as Hottinguer & Cie, Rothschild & Co and Alantra have also announced expanded operations in or around Lyon, signalling that the city is being treated as more than a satellite destination—it’s becoming a strategic hub. Local coverage and nous often wins out here. This kind of movement underlines that regional hubs are being taken seriously by employers, not just as cost-outlets but as places to build talent, serve clients and anchor operations.

Conclusion

Lyon, Manchester and Edinburgh will not replace Paris and London, but they no longer sit in the shadows. For ambitious professionals, they offer compelling alternatives. For employers, they are an opportunity to broaden the talent pool and strengthen retention. Given the current strong market environment in the European banking sector, those who invest in regional hubs with seriousness and clarity will not only attract skilled professionals but also position themselves ahead of competitors still focused solely on the capitals.

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