London's future: The City changes course

A growing litany of scandals is challenging London's position as never before. With capital fast building up in Asia itself, what role does The City have in the future?
<div style="text-align: left;">
Buckingham Palace is lit up by fireworks during the Queen’s diamond jubilee concert in June this year (AFP)</div>
<div style="text-align: left;"> Buckingham Palace is lit up by fireworks during the Queen’s diamond jubilee concert in June this year (AFP)</div>

Depending on your viewpoint, London is either booming, or completely falling apart. After the Diamond Jubilee and the Olympics, London’s reputation as a party town has never been higher. In stark contrast, its reputation as a financial centre has never been lower.

This Janus-faced dichotomy is accepted by all who work in the UK financial services sector. But to outsiders it is a cause of concern. And now, Asian companies and governments are hesitating before engaging with the financial system in London. The scandals engulfing many of the world's biggest banks have a worrying tendency to start in London. The rise of banker bashing and political pressure on finance...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222