The club of City executives plotting a revival for the UK’s capital markets

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Financial Times 1w ago

The club of City executives plotting a revival for the UK’s capital markets - Financial Times

Quick Summary:

CMIT scored its own win last year when the Financial Reporting Council, the accounting watchdog, scrapped all but one of its planned additions to the corporate governance code for large listed companies.

Two CMIT members expressed frustration in recent months at the refusal of Prime Minister Rishi Sunak’s free marketeer advisers to support more radical measures to push investors to back UK companies.

Other members include Sir Jonathan Symonds, chair of FTSE 100 drugmaker GSK, and Sir Nicholas Lyons, former lord mayor of the City of London and now chair of pensions group Phoenix, each armed with their own motivation for rebooting the market.