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A HIGH-POWERED group of City financiers has been drawn together by Boris Johnson, the London mayor, to ensure the capital does not lose its status as a world financial centre.
The committee will be led by Bob Wigley, a top banker at Merrill Lynch, and will include the chief executives of four of London’s most important financial institutions: John Varley of Barclays, Andrew Moss of Aviva, Manny Roman of GLG and Philip Yea of 3i.
In addition it will include John Griffiths-Jones, chairman of KPMG; Helen Weir, head of retail banking at Lloyds TSB; Lord Levene, chairman of Lloyd’s of London; and David Lewis, Lord Mayor of London.
Johnson said: “I am keen this group finds out exactly what the leading industry players think and makes clear recommendations to all those concerned with upholding one the UK’s most important economic sectors.”
He added: “It’s vital that the capital retains its competitive edge.”
Wigley, chairman of Merrill Lynch Europe, Middle East and Africa, and his team will work with the City of London Corporation.
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If the government continues as it is we will lose the huge benefits the entire UK derives from London being at the heart of the worlds financial markets. Of course, we need effective regulation too. Benefits? Huge investments from abroad, jobs, huge tax contributions, tourism, cuture, etc., etc.
Mark, London, UK
Oh dear. 'Competitive edge' again. Oh dear. 'Find out exactly what the leading industry players think.' Pretty obvious, one would think, based upon recent behaviour. Try: no euro, no regulation, no government tax twiddling, no EU interference, bigger bonuses, sorry, must go, limo's waiting.
john problem, winchester, uk
Yet, this once great country is STILL great only because of its 'world financial centre' status. So you have got to preserve it. With that, you can build up everything else. Expand ties with other nations beyond the EU. What about the Commonwealth countries? You do have a sizeable clout globally!
Edwin "Heng, Singapore, Singapore
If Britain intends to be an integral part of the EU the pound will have to be dumped for the Euro and the City will share its financial role with Paris and Frankfurt. This loss of power is what drives the City bankers to lobby the Government for favourable treatment - to the detriment of the people.
peter fieldman, paris, france
If such a meeting, or series of meetings could have the desired effect, then perhaps it should have been convened a tad earlier, facts as they appear to 'John Q Publick' is that this is wheel spinning, and the underlying issues are getting the 'E.U. Treatment', i.e. what the eye refuses to see, ---
wpo, warsaw, n.y.
The 'City' is the only 'industry' Britain has left. There is no manufacturing, no R&D, no other income generating industry left. Hence, the govt will always give sweeteners to rich bankers and other financiers. It's a shame that this once Great country is now no more than the world's finance broker.
alistair, London,