LONDON’S drive to attract foreign investment to the capital could be set for a lift after a public-private partnership with a mandate to drum up business appointed its first CEO.
Opportunity London is tasked with driving more than £100bn-worth of investment for the capital, providing the kind of inward investment support now de rigeur in other cities.
Jace Tyrrell, formerly boss of the New West End Company, will return from Sydney to take up the top job.
The appointment will be announced later today at an investment summit.
Opportunity London has been established by the NLA – an independent organisation bringing together the capital’s built environment players – and London & Partners, the capital’s business growth agency.
The body’s birth comes at a time when the capital is having to battle economic and regulatory headwinds, as well as dealing with the fallout from higher levels of working from home.
Opportunity London, which is also backed by the Corporation of the City of London and the 32 London boroughs, will have a “vital’ role to play in the capital’s rebound, said London Mayor Sadiq Khan yesterday.
“London is a diverse and dynamic hub for innovation, fizzing with talent, creativity and potential. Opportunity London has a vital role to play in promoting and helping secure much needed capital investment right across our great city as we work to build a better London for everyone.” he said.
Foreign Direct Investment into the UK fell 6 per cent in 2022 compared to 2021, according to research by consultants EY. Much of that comes into the capital, though fans out across the rest of the country.