Why London remains competitive: Insights from the Former Lord Mayor

CGTN Europe

Is #London still a top global financial hub? Former Lord Mayor of London #MichaelMainelli shares key insights into the city’s performance since 2016 - including impressive growth in workforce and global assets under management.   #LeadersLounge

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00:00Let's talk about London as the financial hub, and do you think London is still that competitive?

00:06Well, you can't be a Lord Mayor and not be a bit of a booster, so yes.

00:10Why is London competitive?

00:11Well, since Brexit in 2016, nine years ago, the workforce in London has increased from 525,000 to 678,000.

00:23The second fact, and one of the conversations we're having repeatedly in China as Lord Mayors,

00:29is global assets under management in London have risen from 11% to 13% over the same nine-year period.

00:38They're actually managing more money.

00:392% of global assets is a huge number, and it's being managed by less than 1% of the world's population.

00:45That is the city of London's core strength, managing money on behalf of others.

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