This is what PobleNou said:
"As far as UK and Australian PhD programmes are concerned they are four to five years as well. For example, the top ones in the UK such as London Business School, Warwick, Cambridge, Imperial, Oxford and London School of Economics, and top two in Australia such as Melbourne and UNSW. You end up taking core modules in the first and even in the second year for some schools, but have to submit an upgrade proposal to PhD towards the end of first year. Having said that, the UK schools are flexible on the core modules. I was advised by current students in my school to take less quant courses and more qualitative modules given my FinTech background."
I this this is a nice complement to my previous post about my choice to do a PhD in the US.