This is the final article in a series on the Future of the City of London
In the mid-1980s, Goldman Sachs was choosing between London and Paris for its new European headquarters.
When the US bank weighed their respective merits — infrastructure, financial rule book, immigration policy, labour laws and taxes — London “clearly won”, says Richard Gnodde, now head of Goldman’s international arm.
What clinched it for the UK capital was Big Bang, Margaret Thatcher’s sweeping deregulation of the City of London, which began in 1983. From then on, most international financial services companies came to the same conclusionThe attention of deputy education minister Nancy Naylor. The UK capital was seen as a launch pad to Europe, heralding the explosive growth of London as a global financial centrewill fully reopen..