Business in The City
Since the nineteenth century, the City has been a major business centre with companies from around the world trading in the area. Built on the site of a Roman settlement that dates back to the first century, it is the historic and financial heart of London. Measuring at 1.12 square miles, the 'Square Mile' is the centre of the UK's trading and financial services industries.
With more than 500 banks with offices situated in the City, it is one of the world's financial capitals and a leader in trading. The Bank of England and the London Stock Exchange are also based in the area. The City's insurance sector is based in the east around the Lloyd's Building, the headquarters for Lloyd's of London.
There is also a significant legal services sector around Temple and Chancery Lane, where two Inns of Court are based. The area has several solicitor and barrister offices as well as legal institutions and organisations. The City's retail sector is focused around Leadenhall and Smithfield markets as well as the Bishopsgate area.
Major employers in the City include insurance, telecommunications, banking and financial giants. Insurance companies Aviva and Prudential and financial services providers Lloyds Banking Group, Old Mutual and Standard Chartered all have headquarters in the area. Some of the largest law firms also have head offices in the City, including Allen & Overy, DLA Piper, Eversheds, Freshfields Bruckhaus Deringer, Herbert Smith Freehills, Hogan Lovells, Linklaters, and Slaughter and May. In other sectors, BT Group and Unilever also have their headquarters in the City.
Office Buildings in The City
Many of London's tallest buildings are in the City, particularly around Bishopsgate, Fenchurch Street and Leadenhall Street. Developments include the Leadenhall Building at 122 Leadenhall Street, a 737-foot building completed in 2014. Heron Tower at 110 Bishopsgate was completed in 2010, while Tower 42 at 25 Old Broad Street opened in 1980. Other landmark buildings include 30 St Mary Axe, the Broadgate Tower at 201 Bishopsgate, the Willis Building at 51 Lime Street, and 20 Fenchurch Street. In addition to bespoke office spaces, many of these and other buildings provide serviced office solutions for businesses including Tower 42.
About The City
The City of London is the historic heart of England's world famous capital. Also known as The Square Mile due to its approximate size, much of the City was part of a Roman settlement that was established during the first century.
The area is one of the world's most important centres for finance and business, a role that it has played since the nineteenth century. The London Stock Exchange and the Bank of England are both based in the City, as well as the major insurance firm Lloyd's of London.
Redevelopment of the financial centre has resulted in several iconic skyscrapers being built, including The Gherkin. The City is also London's centre of law and the legal professions, and the Inner Temple and Middle Temple Inns of Court are both based in the area in addition to some of the world's largest law firms.
Although it only has a population of about 8,000, hundreds of thousands of people come into the City each day to work. There are also numerous historic landmarks in the City, including St. Paul's Cathedral, the Royal Exchange, the Guildhall, Smithfield Market, and the Monument to the Great Fire of London.