The Lord mayor will tonight tell the City to draft plans for a "bold, bright, buccaneering" post-Brexit future

Mark Sands
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Mountevans will also pay tribute to the work of financial regulators since the referendum (Source: Getty)

Lord mayor Jeffrey Mountevans will tomorrow call on City chiefs to develop a “buccaneering” 20 year vision for its future after Brexit.

Speaking at the annual City Banquet at the Mansion House, he will warn that the City of London cannot afford to adopt a “wait and see” approach.

“We must conceive a vision of the UK’s place in the world, in five, ten, twenty years, covering everything from regulation to infrastructure,” Mountevans will say.

“Not only for our own use, not only to inform a Government that already carries a heavy burden in the negotiations, but to further secure trust among a public that craves stability.”

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He is expected to add that people of the UK “are crying out” for forward-looking Brexit plans.

“A bold, bright, buccaneering vision of the future. Defined by stability and sustainability, innovation and conviction. This is an opportunity to demonstrate the City’s ongoing relevance to a healthy, happy and prosperous society,” Mountevans will say.

He will be joined at the banquet by Prudential Regulatory Authority chief executive Sam Woods and FCA chief executive Andrew Bailey.

And speaking ahead of the regulators, Mountevans will also pay tribute to their actions to calm the markets in the aftermath of this summer's Brexit vote.

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“Today’s City is more vibrant and more professional than it was in the 80s. Responsible and indeed responsive regulation supports efficient, stable and innovative markets,” he will say.

“We have created positive momentum, and taken ownership of the financial and professional services sector’s image.

“But to maintain that, we must keep on working with the FCA, with the PRA, with the Bank, to draw up realistic, collaborative regulation.”

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