The General Purposes Committee of Aldermen met on 14 October 2025 to discuss a range of issues, including the election of a deputy chair, appointments to various committees, and support for UK-based financial and professional services. The committee was also scheduled to discuss the Mayoral and Shrieval Fleet, and the Livery Liaison Scheme in a non-public session.

Support for UK-Based Financial and Professional Service - Innovation and Growth Quarterly Report

The committee was scheduled to note the update on key pieces of work that have taken place between July and September 2025, and their outputs, as detailed in the Support for UK-Based Financial and Professional Service - Innovation and Growth Quarterly Report.

The report outlined the City of London Corporation's (CoLC) work, through Innovation and Growth (IG), to strengthen the UK's Financial and Professional Services (FPS), creating jobs and growth across the UK. The programmes in this area support the Corporate Plan 2024-29 objective to deliver Dynamic Economic Growth, the recommendations in the Corporation's Vision for Economic Growth Report and are aligned to the Corporation's Competitiveness Strategy 2021-25.

The report noted that CoLC has carried out a wide range of activity between July 2025 and September 2025, across the key areas of the 2025/2026 business plan. These support the objectives laid out in the IG Business Plan:

• Open & Global ensuring that UK is a global gateway for FPS business.
• Sustainable Finance positioning the UK as a one-stop shop; the go-to partner for countries and companies, looking for capital and expertise, to help them meet their sustainability goals.
• Innovation in technology ensuring that UK FPS and the financial system is recognised as globally leading in technology.

The report also noted that IG's work in this area drives into three key policy outcomes:

• Raising investment levels to create jobs.
• Become a hub for sustainable finance.
• Secure growth through a digital economy.

The report provided updates on a number of key initiatives and workstreams, including:

• The Lord Mayor hosting the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, and the Governor of the Bank of England, Dr Andrew Bailey, at Mansion House for the annual Financial and Professional Services Dinner.
• The launch of the new Investment Hub was announced the Office for Investment: Financial Services; a unified national hub set to unlock £10bn in investment potential.
• The Employer Pension Pledge was launched, in alignment with the Mansion House Accord and Compact.
• The Government published the Financial Services Growth and Competitiveness Strategy.
• The City of London Corporation's report Regulating for Growth: A Cultural Shift for a Competitive UK calls for a cultural shift in UK financial regulation.
• The Lord Mayor met the Saudi Investment Minister, HE Khalid Al Falih, who travelled to London for the second meeting of the UK-Saudi Sustainable Infrastructure Assembly.
• During her visit to the UK, the US SEC Commissioner Hester Peirce gave a speech at Guildhall, where she was introduced by the Policy Chairman.
• The Brussels office hosted the Anglo-French Dialogue with Hogan Lovells, covering EU savings accounts, digitalisation of capital markets, and defence partnerships in early July.
• The Brussels office organised the second edition of the EU-UK Financial Services Industry Dialogue.
• The new Investment Landscape report will be launched at the party conferences, setting out investment flows in the UK.
• The MoU between the Swiss and UK regulators was signed 22 September as one of the final stages in the BFSA implementation.
• In September 2025, the Policy Chairman visited three key cities in India.
• The incoming Lady Mayor (subject to election), Dame Sue Langley, attended Rendez-Vous de Septembre, the leading annual gathering for the global reinsurance market.
• The Lord Mayor's visit to Japan provided an opportunity to champion the UK's asset management capabilities, particularly its leading position on sustainable finance, digital technologies and financial innovation.
• The Lord Mayor visited China to maintain regular engagement with this key market, following his successful visit in March 2025.
• In Singapore, the Lord Mayor met with senior leaders from Aberdeen Investments, Temasek Holdings, and OCBC Bank, and participated in an asset management roundtable organised by the British Chamber of Commerce.
• In Hanoi, Vietnam, the Lord Mayor attended the BUV Conference with Prime Minister Chinh, met with the Young Presidents' Organisation, and joined a dinner with BritCham Board members.
• The Transition Finance Council conducted its Showcase at Mansion House on 15th September producing a half yearly report on progress, an Investment Playbook for practitioners as well as guidelines which are being tested now with UK industry and with international audiences at COP 30 in Belem, Brazil.
• The Corporation participated at Ethical Finance Global 2025, part of the inaugural Edinburgh Finance Festival, notably delivering the opening speech at the SDG Hive.
• Following the report - Securing growth: the digital verification there was a roundtable in July with the UK FPS sector which was accompanied by a broader government and market update.
• The Technology and Innovation Team is continuing to scope a project aiming to help AI startups and scaleups better prepare their business to procure with financial services.
• On June 15th, we published 'Unlocking AI Skills in Financial and Professional Services: Synthetic Data Marketplaces'.
• In June, the International Regulatory strategy (IRSG) UK Regulation Committee responded to a FCA discussion paper on regulating cryptoasset activities.
• On 28 July, the Department for Science, Innovation and Technology (DSIT) published a consultation paper exploring Smart Data opportunities in digital markets, seeking views on whether and how to introduce a Smart Data scheme in digital markets using the new powers provided under the Data (Use and Access) Act 2025.
• On 3rd September the 3rd annual Innovation and Technology Dinner was delivered at Mansion House.
• Innovation and Growth are delivering the Lord Mayor's Quantum Hackathon in partnership with IBM.

Election of Deputy Chair

The committee was scheduled to elect a Deputy Chair for the year ensuing, in accordance with the Court of Aldermen's Standing Orders 14 and 16. Alderman Vincent Keaveny was nominated for the position.

Appointments

The committee was scheduled to discuss the following appointments:

• To approve the appointment of Alderman Christopher Makin to The Committee of Aldermen to Administer the Sir William Coxen Trust Fund for a second three-year term expiring in September 2028.
• To discuss the appointment of an Alderman to the Board of Governors of the City of London Freemen's School from February 2026.

Exclusion of the Public

The committee was scheduled to consider a motion to exclude the public from the meeting for the following items of business, on the grounds that the Chairman and Deputy Chairman of the General Purposes Committee of Aldermen have determined, having had due regard to the Disclosure Arrangement, that disclosure should not be permitted.