The City of London Corporation has proposed the establishment of an "investment hub" for financial services to ensure the Square Mile maintains its status as a premier global financial centre.
The report, produced in partnership with the Treasury, suggests that the hub could release up to £10bn in growth capital by making investor engagement more efficient, as reported by .
The envisioned hub is described as a "strategic one-stop shop" for international investors, providing "joined-up, tailored support" from the point of market entry through to expansion.
The goal is to develop a "unified, investor-centric and digitally enabled º£½ÇÊÓƵ model" that not only draws financial services investment but also provides regulatory advice and retains it. The implementation of the hub would involve collaborations between the public and private sectors.
Chris Hayward, Policy Chairman at the City of London Corporation, commented: "This is a now or never moment for º£½ÇÊÓƵ financial services. If we don't act decisively, we risk losing our global position and the economic prosperity, jobs and innovation that come with it."
He added that other markets have already implemented services that facilitate faster market access, including investor concierge services and comprehensive government and regulatory support.
Hayward emphasised: "The º£½ÇÊÓƵ must urgently first match, then exceed these standards to remain competitive."
º£½ÇÊÓƵ risks losing competitiveness
The º£½ÇÊÓƵ's market share of financial and professional services foreign direct investment projects has diminished, with a 4 per cent drop from 2017 to 2024, in contrast to other financial hubs that have experienced growth during this timeframe.
S&P Global researchers were informed by professional service providers that staff departures in May went unfilled, leading to a "sustained downturn" in workforce numbers within º£½ÇÊÓƵ firms.
Additionally, demand for new business both domestically and internationally has weakened due to the upheaval caused by US tariffs, according to the researchers.
Despite the º£½ÇÊÓƵ's advantages such as its time zone, legal system, and global financial infrastructure being highly regarded by investors, the report suggests that these assets must be complemented with "modernised, frictionless investment services" to maintain competitiveness.
