As you might know, London has always been the home of a lot of global financial organizations. All of these institutions have attributed to the current financial state of London. Here is a short list of some of the most important institutions that are located in London.
Bank of England
The Bank of England is the main bank in the UK, it was established in 1694 making it the second oldest major bank in the entire world. The banks that were established later on were all based on the model of this bank. However, the model of this bank was based on banks from Italy at that time.
So important is the Bank of England to the City of London that the area in the heart of the City is now referred to simply as Bank. This small area within the confines of the City’s Square Mile hosts the offices of some of the most important and well known financial and legal services in the world.
London Stock Exchange
The Stock Exchange of London was established in 1801 and nowadays it has a capital of over $4 trillion, making it the largest stock exchange institution in Europe and the 4th largest in the entire world. For smaller firms, there was made an Alternative Investment market which was a subsection of the London Stock Exchange institution. This is the far better choice for smaller firms because it is not regulated as much and it provides a lot of flexibility to them. This alternative investment market was established in 1995.
London Bullion Market
The Bullion market in London is operated by the London bullion market association which is under the supervision of the Bank of England. This is the world’s largest market for the extensive trading of precious metals such as gold and silver. All the major banks in the world are supporting this because the daily turnover of gold is around 18 million ounces and the silver is close to 110 million ounces per day.
The HSBC has its headquarters located in London in order to be able to control a network of over 7600 offices that are carefully spread across 87 countries. On a global scale, the bank offers both private and commercial banking.
Lloyd’s of London
Lloyd’s is a banking group that is best known for its insurance services that offer, but it also offers pensions, private services, and retail banking. The revenue of this banking group is somewhere around £43 billion which makes it a very successful multinational banking group.