As the FTSE closes for trading for the last time in 2016 it is a good time to reflect on what 2017 may bring and to take a longer term view of the future of financial services in the UK.  I recently participated in a panel discussion with the London School of Economics Growth Commission on the future of financial services and the City of London.  Brexit dominated discussion.  I argued that the City faced a number of challenges that pre-dated Brexit:  decline in public trust; regulatory overload; technological change; and a global shift of markets towards Asia.  Brexit may compound and accelerate these challenges and changes and it is important to think about how Brexit will interplay with these trends - rather than simply thinking about the impact of Brexit on the City of London as it is today.

Similarly, Brexit provides an opportunity to develop a new vision of the City of London and to shape a vibrant future for UK financial services.  At The LSE Growth Commission I outlined some ideas - including a renewed focus on the intrinsic purpose of financial services and a more long-term approach; in turn supported by a continued emphasis on innovation (and maintaining London as the global centre for fintech), a greater focus on developing the right culture and leadership rather than reliance on tick-box compliance, and attracting and developing talent.

This is summed up in a short video: Regulation, tech, trust and Brexit 

The full discussion, with presentations by a formidable and insightful group of experts can be watched here: LSE Growth Commission: Finance and the City of London