Economic Policy > GLA Economics > Events > Financial services in London and the UK: Competing in a changing global economy

Financial services in London and the UK: Competing in a changing global economy

25 June 2007

Seminar summary

GLA Economics hosted a high-level seminar, to discuss London's (and the UK's) financial services sector in the light of rapid economic development and global competition.

In response to the Mayor of New York's recently published McKinsey Report, the seminar explored a range of issues, and was intended to appeal to a wide range of participants. We wished to promote dialogue between the public and private sectors, and between the City and its wider economic and social contexts. As well as a number of distinguished speakers, there was plenty of time during the course of the morning for questions, answers and discussion.

Speakers

Simon Jowers, HM Treasury

The competitiveness of the UK-based financial sector, and the work of the Chancellor's high-level group.

Simon Jowers PDF
Simon Jowers RTF

Lynton Jones, Bourse Consult

The main conclusions of the recent report on 'The Competitive Impact of London's Financial Market Infrastructure'. In particular, the way the performance of the main capital market infrastructure in the international equities, derivatives, foreign exchange and fixed income markets has impacted upon the performance of the capital markets in the UK as a whole, and the effect upon London's competitiveness.

Lynton Jones PDF
Lynton Jones RTF

Michael Mainelli, Z/Yen

The City of London Corporation's new Global Financial Centres Index (GFCI): this index assesses competitiveness using city assessments given by respondents to an online survey, and instrumental factors provided by external indices. As well as the overall rankings, there was also commentary on how wider changes in areas such as climate change and online gambling may affect London's future ranking.

Michael Mainelli PDF
Michael Mainelli RTF

Kathryn Grant, GLA Economics

London's financial services sector and the history of globalisation. An exploration of London's long history as a centre for trade and finance activity; and an analysis of recent developments, such as the growth of hedge funds and the use of private equity.

Kathryn Grant PDF
Kathryn Grant RTF