Liverpool’s professional services sector, one of the largest in the country, is thriving again. Wealth has been managed in the city since the 18th century, when huge amounts were generated by merchants and shippers.
In his book Liverpool: City of the Sea , academic Tony Lane says that between 1804 and 1914 only London and Glasgow produced more millionaires than Merseyside. Its 1879-80 business tax take was higher than that of Birmingham, Bristol, Leeds and Sheffield combined. The long maritime tradition has fostered law firms and commodity brokers. The global cotton trade is still run from the city.
