City business has had cause to take heart in recent months with a clear display of political will behind an overhaul of UK listing rules that could see London shake off its Brexit and pandemic woes and reassert itself as a global financial hub. Our Global London report finds US and European firms alike concerned about the status of their London offices now that Brexit is a hard reality.
Proposals set out in the UK Listing Review in March, led by Lord Hill, will particularly pique the interest of anyone tracking the special purpose acquisition company (SPAC) market. Indeed, the ubiquity of those deals has made them difficult to miss. There has been much talk of London jumping on the bandwagon in a fit of FOMO as other listing destinations, especially the US and Amsterdam, pile into that frothy market with gusto. However, to say that London has been lagging competitors in the US, Europe and Asia for too long is an understatement, and any shake-up to expedite parity with peers has not come a moment too soon.