Dame Susan Langley, the Lady Mayor of the City of London, has declared that 2026 will be a pivotal year for the UK's financial and professional services sector to deepen its collaboration with international partners. This call comes as the sector faces a continued jobs decline, recorded in December, and a shifting global landscape.
A Pragmatic Approach to Shared Challenges
In her statement, Langley emphasised the need for a pragmatic strategy to tackle joint economic and geopolitical challenges. She referenced the UK Prime Minister's recent comment that relations with the European Union are now in "the best position they've been in ten years", nearly a decade after the Brexit referendum. Langley reinforced this point, recalling her discussions with German President Frank-Walter Steinmeier during his state visit in December, where the necessity for practical cooperation was a key theme.
Langley, who acts as the global ambassador for the sector, stated that private capital will be a critical driver for innovation in defence, clean energy, fintech, and biotech. Building on trade deals with nations like South Korea, India, and the US, as well as outcomes from the EU-UK Summit in May 2025, she argued that the UK must work alongside other financial centres. The goal is to maximise the flow of both financial capital and human talent, while promoting reciprocal investment in key strategic sectors.
Reducing Barriers and the Berne Breakthrough
A central pillar of her vision is actively working to reduce barriers to cross-border financing and avoid restrictive investment rules. She highlighted the potential issue of the updated EU Capital Requirements Directive, which could hinder non-EU bank lending. "In these testing geopolitical times, the EU and the UK should not be scaling down their investment into each other's economies," Langley asserted.
She pointed to the landmark Berne Financial Services Agreement (BFSA) as a blueprint for success. This pact, which took effect on 1 January 2026, establishes a mutual recognition framework between the UK and Switzerland. It facilitates cross-border market access with less friction while preserving each nation's regulatory independence. Langley discussed this advance with Swiss Ambassador Dominique Paravicini prior to the New Year, noting that it represents a major step in cooperation between London and Zurich, Europe's two leading financial centres.
Taking the Message Global in 2026
To advance this agenda, Dame Susan Langley plans an extensive international travel schedule throughout the year. Her mission is to explore further cooperative opportunities and champion London's strengths, including its strategic time zone, deep liquidity, robust legal system, and diverse talent pool.
Her itinerary begins next week at the World Economic Forum in Davos, where she will engage international investors to promote foreign direct investment into the UK. Subsequent visits will include key markets such as the US, China, India, Australia, and Japan. Furthermore, she will host global stakeholders at events at Mansion House, described as the UK financial and professional services sector's embassy in the City.
Concluding her message, Langley invoked the spirit of Henry Ford, arguing that true success lies in working together, not merely coming together. She resolved that in 2026, the UK and its partners must relentlessly reach outward to defend shared values, champion open and rules-based trade, and deepen the exchanges of people, ideas, and capital that underpin mutual prosperity.
