Accountancy firm EY plans to almost double the size of its South West & Wales financial services practice next year as it targets the key sector for further expansion.
The regional financial services team has already grown by nearly 70% over the past year and now employs 80 people at its Bristol base.
That number is set to grow to 150 by the end of 2016, providing a full range of assurance, advisory and tax services to firms in the sector. 
The South West & Wales region boasts the third largest financial services sector in the UK, employing nearly 150,000 people and is home to some of the UK’s largest insurance, banking and wealth management firms such as Lloyds Bank and Hargreaves Lansdown in Bristol and Nationwide and Zurich in Swindon.
In total financial services accounts for 10% of the region’s gross domestic product.
EY is expanding a floor of The Paragon building – its regional office on Counterslip in Bristol city centre – to accommodate its financial services team and allow for its rapid expansion to continue.
EY South West & Wales head of financial services Andy Blackmore, who announced the expansion at an event for clients on ss Great Britain this week, said: “Our investment highlights the firm’s commitment to the financial services sector in the South West & Wales region.
“Helping our clients, developing our people and investing in our communities are all key elements of our global strategy of ‘Building a better working world’ and my leadership team are focused on ensuring we fully contribute towards achieving this strategy by investing in a financial services practice outside of London and building our services locally.”
