The skyline of the city of London looks like the square mile of old. But this is not the new city, which stretches from the banks, skyscrapers in Canary Wharf in the east, to Mayfair and Belgravia in the west, where hedge funds and private equity groups have established their base.

Is this as good as it can get for London as a financial centre? What will be the future areas of financial innovation? What are the threats to London’s position?