Nadhim Zahawi will throw the government's support behind a new initiative designed to shore up London's position as a global destination for major company flotations
Lord Grimstone, who resigned as minister for investment last week in the wake of Boris Johnson's defenestration, was the driving force in Whitehall behind efforts to persuade ARM to list in London.
Its intention will not be to publish a single report but to make periodic recommendations to government about measures that will augment the City's international appeal.While it is not a government-commissioned group, the endorsement of Mr Zahawi will represent an important vote of confidence in its mandate.
Investors' retreat from tech stocks has cast a fresh shadow over the sector, while in New York the disastrous performance of many special purpose acquisition companies has contributed to plunging private market valuations. In a separate review, Sir Ron recommended an overhaul of visa rules to boost 'scale-up' companies, the launch of an international action plan for fintech and further revisions to listing rules.
The annual Mansion House dinner is an important showpiece event for the City, with Andrew Bailey, the Bank of England governor, and the Lord Mayor, Vincent Keaveny, also making keynote speeches.
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