Priya Patel
TLDR:
- The head of UK Finance, David Postings, believes it’s time for London to take more risks in order to maintain its position as a global financial hub.
- Postings wants London to view itself as a challenger rather than an incumbent post-Brexit.
The head of UK Finance, David Postings, has called for London to take more risks to maintain its position as a global financial hub. Postings, a former Barclays veteran, believes that London needs to view itself as a challenger rather than an incumbent in the post-Brexit era. London’s reputation has suffered due to Brexit and the macroeconomic slump caused by the pandemic, leading to prized listings going elsewhere. However, politicians and industry leaders have been working on plans for growth to revive London’s status.
Postings urged London to level the playing field between itself and the rest of the world by taking more risks and rolling the dice. He believes that London needs to adopt a challenger mindset and actively seek out new opportunities, rather than relying solely on its past success. Postings argues that taking calculated risks would help the City stay ahead and maintain its position as a leading global financial center.
Politicians have already proposed various measures to support London’s financial sector, including the government’s plan for a post-Brexit “Big Bang 2.0” to attract more listings and investment. However, Postings argues that the industry should not wait for government-led initiatives and should instead take the lead in pursuing new opportunities.
Postings also emphasized the need for London to adapt to rapidly changing market dynamics, such as the rise of fintech and digital currencies. He highlighted the potential of these emerging technologies to reshape the financial landscape and urged the industry to embrace innovation and stay at the forefront of these developments.
In conclusion, David Postings, the head of UK Finance, believes that London must adopt a challenger mindset and take more risks to maintain its status as a global financial hub. He urges the industry to actively seek out new opportunities, adapt to market changes, and embrace innovation. While politicians have proposed initiatives to support London’s financial sector, Postings argues that the industry should take the lead in driving growth and staying ahead of the competition.
