Inhouse - Financial Services

Overview of the In-house market - Financial Services

The London Financial Services Market: Understanding the Landscape

The financial services sector in London offers a wealth of opportunities for lawyers looking to transition in-house. As one of the world's leading financial hubs, London boasts a diverse range of institutions, from global investment banks and asset management firms to fintech startups and regulatory bodies.

We estimate that there are c.6000+ lawyers working inhouse within the Financial Services Sector in London. Over the last 10 years the inhouse market has been growing at an annual rate of 3-4%. Whilst the growth has slowed a little in the last few years, with continued regulatory complexity, evolving financial products, and technological advancements the demand from the financial services sector for inhouse lawyers should continue.

Different types of organisations within the Financial Services sector:

The financial services sector in London is broad and encompasses a wide range of organisations, each presenting unique opportunities and challenges for in-house lawyers. The different types of organisations include:

Investment Banks – Global banks offering advisory services, trading, and capital markets expertise.
Retail / Commercial Banks and Private Banks – Institutions providing consumer and business banking services, including loans, mortgages, and credit facilities.
Asset Management Firms – Companies managing investment portfolios, pension funds, and mutual funds. Traditional Asset managers - tend to invest in publicly traded investments - like stocks, bonds, and mutual funds - on behalf of clients, rather than making private or direct investments into companies.
Investment firms and Funds - Investment firms and funds are entities that pool money from investors to buy a portfolio of assets with the goal of generating a financial return. They vary in structure, strategy, and risk profile, but all act as intermediaries between investors and markets
- Private Equity firms – an investment firm that raises capital from institutional investors and high-net-worth individuals to buy and manage private companies or take public companies private. It aims to improve the performance and value of these businesses over several years before exiting through a sale or IPO, often using leverage to enhance returns.
- Venture capital firms - an investment firm that provides funding to early-stage and high-growth startups in exchange for equity (ownership). These firms take on higher risk than traditional investors, betting on the future success of innovative companies — often in tech, biotech, or other emerging sectors.
- Hedge Funds – Alternative investment firms using complex strategies to generate returns.
- Family Offices – Manage investments for ultra-wealthy families
Insurance and Reinsurance Companies – Firms offering risk management, underwriting, and reinsurance solutions.
Fintech Companies – Start-ups and scale-ups developing innovative financial products, including digital banking, payments, and blockchain solutions.
Regulatory Bodies and Exchanges – Institutions such as the Financial Conduct Authority (FCA) and London Stock Exchange (LSE) overseeing compliance and market integrity.

Useful Practice Area experience for the Financial Services Sector:

Whilst each in house role will be unique and require specific skill sets, below are a range of skills that tend to be more in demand by Financial Service organisations.

FS Regulatory / Compliance – With the ever-evolving regulatory landscape, including requirements from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), companies often require legal experts to ensure compliance with financial regulations.
Banking and Finance – Investment banks, retail banks, and fintech firms seek in-house counsel to advise on lending agreements, structured finance, derivatives, and capital markets transactions.
Funds and Asset Management – Asset managers and private equity firms need legal support in fund structuring, investor relations, and regulatory compliance.
Fintech and Digital Assets – The rise of digital finance, cryptocurrency, and blockchain technology has created new legal challenges, increasing demand for tech-savvy legal professionals who understand the constantly changing and evolving regulations and frameworks that affect this area.
Corporate Governance and Risk Management – many financial service organisations are enormous organisations and require in-house counsel to constantly by on hand to help them navigate governance frameworks, corporate structures, and internal risk policies.
Dispute Resolution and Litigation – Although most in-house roles tend to focus on advisory work, many financial institutions hire legal professionals with Litigation experience. They often need expertise that can help support them with internal investigations and regulatory enforcement actions as well as overseeing and managing on going litigation disputes.
Corporate and M&A Advisory – Financial services organisations regularly engage in mergers, acquisitions, and corporate restructuring. In-house lawyers with expertise in M&A, corporate finance, and transactional law play a crucial role in supporting these deals.

Roles in the Financial Services Sector in London.

During 2024 we monitored inhouse roles for London that were being advertised directly by firms on Linkedin. Over the year we identified just shy of 800 unique roles. These were at all levels, but c.50% of the roles were for lawyers that had 6 or more years experience.

In the first quarter of 2025 we have identified over 275 unique roles. These were spread across all different types of organisations, but as a guide:

27% were with Banks
14% were with asset managers/investment firms
40% were with Fintech businesses
14% were with Insurance / Reinsurance firms
4% were with regulatory bodies / exchanges

To be kept up to date with roles in the financial services sector become a member today and receive our bi-monthly update on inhouse roles.

Become a Member now