London is moving stateside. Okay, more specifically the City of London Corporation has announced that it’s opening a US office.
What business does the Square Mile have in the USA, you ask? Well, if you couldn’t already tell by the sea of tweed and gilets, it’s the UK’s biggest financial hub and one of the largest financial centres in the world.
The City of London Corporation has been around since ancient times and actually already has offices in China, India and Brussels, so it makes sense to finally open one up across the pond. The announcement was made at the JP Morgan headquarters on Wall Street.
Chris Hayward, policy chairman of the corporation, said: ‘The US is our biggest trading partner, we absolutely have to have a base there.
‘Being present in-market will allow us to forge deeper ties and collaborate on cutting edge issues that are at the forefront of finance. Whether that be fintech, asset management, insurance or professional services. The US represents shared cultural and business values and great opportunity for UK firms.’
The new office is expected to open in 2025 though it’s not yet decided whether it will be in New York or Washington.
Time Out in the Square Mile
While a new office is being founded across the Atlantic, there’s always loads of new stuff popping up in the City itself. It’s set to have 11 new skyscrapers by 2030 and this huge £500 million tower has just been given the go ahead. Find out how to spend your time in the City of London with our extensive area guide.
Did you see that South Kensington tube station is getting a massive makeover?
Plus: London has been named one of the world’s best cities (again).
Listen to Time Out’s brilliant podcast ‘Love Thy Neighbourhood’: the Christmas special with Paloma Faith in the East End is out now.
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