Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

London’s Status as Financial Center Under Threat, Sants Tells FT

June 18 (Bloomberg) -- London’s role as an international financial center is at risk because business models aren’t responding quickly enough to a new political and regulatory reality, Hector Sants, the outgoing Financial Services Authority chief executive officer told the Financial Times in an interview.

Sants cautioned that banks, brokers and insurers all require “radical re-engineering” over the following five years to reflect changes in savings patterns, the movement of growth to emerging markets and stricter rules on a range of things, from capital and liquidity to remuneration and marketing, according to the FT.

To contact the reporter on this story: John Simpson in Toronto at jsimpson12@bloomberg.net

To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.