Chancellor George Osborne has secured the backing of five investment banks as he seeks to protect the role of the City after Brexit

Mark Sands
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The Chancellor George Osborne Makes A Statement Of Reassurance On The Economy
George Osborne is not among the contenders to replace Prime Minister David Cameron (Source: Getty)

George Osborne has secured the support of the leaders of five investment banks as the government seeks to protect the City following last month's Brexit vote.

Osborne met with bosses from Standard Chartered, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley International and JP Morgan earlier today.

And now the bankers and Osborne have issued a joint statement pledging their commitment to boosting the City.

“Britain’s decision to leave the EU clearly presents economic challenges which we are determined to work together to meet,” the group said.

“Today we met and agreed that we would work together to build on all this with a common aim to help London retain its position as the leading international financial centre.”

Read More: Osborne to slash corporation tax to below 15 per cent

It comes as the Conservatives continue the contest to choose a leader to replace Prime Minister David Cameron.

MPs are voting today to choose the final two candidates, with party members set to make a final decision before 9 September.

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