[A-List] City of London modernisation

["Keaney Michael" <Michael.Keaney@xxxxxx>]

Continuing our occasional series highlighting the evolution of "the
City" in the context of the British state's shift towards the EU.


London becomes less of a name
By James Mackintosh
Financial Times, January 10, 2002

The London Investment and Banking Association is considering dropping
"London" from its name in a bid to become a European representative for
international investment banks.

The review, insitigated by the new chairman, Sir David Walker, is
designed to reflect the fact that almost all investment banks based in
the UK are foreign-owned.

The name change is part of a move by British financial representatives
to ensure their titles match their international aspirations. British
Invisibles, which markets the UK as a financial centre, changed its name
last year to International Financial Services, London.

Liba itself was the British Merchant Banking and Securities Houses
Association until eight years ago but dropped "British" with the aim of
reducing the nationalistic element of its name.

Sir David, who recently retired as Morgan Stanley's executive chairman
for Europe, said he would also explore mergers with other European trade
associations to boost their influence with the European Commission.

"We have to Europeanise Liba," said Sir David. "I'm not myself sure that
I would keep 'L' in the title."

The name review comes as London's plethora of financial representatives
are being urged by Sir Howard Davies, chairman of the Financial Services
Authority, to take a greater interest in Europe.

Michael Keaney
Mercuria Business School
Martinlaaksontie 36
01620 Vantaa
Finland

michael.keaney@xxxxxx