The Notebook: Bloomberg London chair Constantin Cotzias on how the next mayor can keep the City thriving
Where the City’s movers and shakers have their say. Today, Constantin Cotzias, chair of Bloomberg London, takes the pen
The City’s best days are ahead
As the London mayoral election looms, it’s easy to get wrapped up in the day-to-day politics of what makes our great city one of the best places in the world to live and work. No doubt we’ll continue to see robust debate on a number of fronts – from enhancing our transport networks to tackling air pollution.
But one thing we shouldn’t lose sight of is the vital role that the City, its financial institutions and our growing tech sector, plays in ensuring London retains its enviable reputation as the best place in the world to invest.
However, we cannot be complacent in the global race to attract and retain the best talent. The future leader of London must grasp this reality. It’s not just about finance in a silo – the role the arts, cultural, and tourism sectors play is second to none. The value they add to this city is immeasurable, and vital for ensuring London is one of the greatest cities to visit and live in.
Nurturing these sectors isn’t just desirable, it’s essential if we want London to carry on attracting investment and maintaining its reputation as the beating heart of global finance.
The sheer talent, infrastructure, and innovation in the City is unmatched across the continent, and – some might argue – the world. From a bustling trade industry to the buzzing tech hubs of Old Street, London embodies a unique environment that fosters growth, attracts investment and sparks creativity.
Bloomberg is proud to have been part of the fabric of the City for over four decades, with our European HQ home to almost 5,000 highly-skilled colleagues. Tech and data has been at the heart of Bloomberg since day one when our founder Mike Bloomberg set out to change the way information reached investors. Today, we have a 9,000-strong tech and engineering team using cutting-edge AI and data to provide vital real-time information and insight on billions of market movements daily, helping to cement London’s position as a world-leader in financial services.
I am confident London’s next mayor will continue to play their part in enhancing London’s status as a leading global financial hub, creating the conditions we collectively need to thrive by embracing innovation and encouraging continued investment. Let’s make sure London’s financial credentials and credibility on the international stage remain as promising as ever.
Like the City itself, our financial institutions are built on a rich and enviable history. I’m convinced London’s best days are ahead of us if we work together to protect and enhance London’s world-leading reputation as a place to do business.
What makes London the greatest city in the world? Its people
London is a world-leader in tech, finance, the arts, and even in greening our economy. There are multiple reasons why, but to my mind the most important is: talent. The people who are born here or come to live and work in this city make it what it is. We often talk about investment, growth, innovation, the importance of history and institutions – but the reason for success across the board is that, in London, we embrace learning, we place immense value on skills, and we nurture talent wherever we find it.
For a major city like ours, the value placed on human capital has been a unique constant, and one we must continue to embrace. Last year I was the beneficiary of the value London places on talent. Thanks to the work of the amazing mix of minds here at Bloomberg I was honoured to be awarded the Freedom of Canada. It’s not something I would have received without the efforts of the wider team of people at Bloomberg that I’ve worked with over many years, and the senior leaders who mentored me.
Bloomberg and, to a greater extent, London is a melting pot of cultures, ideas and desire to learn. It’s an alchemy that has made our city thrive, and it gives us our competitive edge to keep us one step ahead.
Let’s embrace the value of rowing
Talking of competitive edge, a final feather in London’s cap is our amazing sporting heritage and institutions – from our world-leading Premier League teams to our grassroots sports clubs like my own Islington Boxing Club – celebrating its 50th anniversary this year. But ones that are sometimes overlooked are the wonderful rowing clubs dotted along the Thames.
I love sport and as a 30 year Chelsea season ticket holder this has been a turbulent year. But rowing has been a passion of mine since I was at school, and I was lucky enough to be in crews that won British national championship medals through school and university. Part of the reason I think rowing is such a great sport, and perhaps a similar reason to why I was drawn to Bloomberg, is that it is a game of inches. We rely on sophisticated data and hard work to make incremental gains over time. The best crews are always more than the sum total of their abilities.
It always gives me great pleasure to observe the rowing crews working hard on the Thames, from the novice juniors to the British Olympians who I predict will bring back several gold medals from Paris. So it was sad to see the recent health warnings issued to rowers about water quality of the Thames. If I had a personal ask for the next London Mayor it would be to work with partners to help to clean up the river for rowers, swimmers and anyone else who enjoy’s London’s waterways.