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City of London team heads to USA for post-Brexit talks

The capital's financial sector wants any trade arrangement to prioritise deepening regulatory and supervisory relationships.

Representatives from the City of London are to travel to the US in a bid to boost transatlantic ties for the finance sector post-Brexit.

City of London Corporation policy chair Catherine McGuinness and Lord Mayor Peter Estlin will visit New York on Monday to meet senior figures from the banking and finance industry.

The pair are seeking to promote London's financial services sector and explore opportunities to collaborate in areas such as fintech and green finance as they sit down with Citi, JP Morgan, Blackrock and other financial businesses.

The joint visit will also include a focus on venture capital spending, following a reportedly record amount of fintech investment in London so far in 2019.

According to data from London & Partners and Innovate Finance the first eight months of the year saw more than two billion dollars (£1.6 billion) invested in London-based businesses across 114 deals.

Mr Estlin and Ms McGuinness's visit comes against a backdrop of a possible post-Brexit trade deal between the º£½ÇÊÓÆµ and US.

The City of London Corporation, the body providing services to London's Square Mile, said that the capital's financial sector wants any trade arrangement to prioritise deepening regulatory and supervisory relationships.

The corporation highlighted that the US and º£½ÇÊÓÆµ are the world's biggest exporters of financial services, while the two countries are also each other's biggest financial services export partners.