The City: Global Finance and the City of London

The City of London is the largest centre for cross-border banking, boasts 41% of global foreign exchange trading, 85% of European based hedge fund assets, and $330bn of worldwide premium insurance income. Alongside New York, London is one of only two Alpha++ rated financial centres, making it a global giant in the financial world. In an era of global financial crisis, is the giant out of control?
"The City" is a radical analysis of London's role as the centre of global finance, by an ex-trader with 20 years experience working in the City. Looking at the development of London as the international leader of the financial world, from the key developments in the post-1945 era to the present day and financial crisis, this groundbreaking book is the first to focus on the historic role of the City and its relationship to the growth of the global finance industry. It argues that looking at financial flows, market dealings and revenues explains the mechanisms of power that make the City of London indispensable to the UK economy, consolidating its control over the invisible empire of global finance.