| HBS Case Collection
(Revised January 2013)
'Walking on a Tightrope': Maintaining London as a Financial Center
Focuses on the development of London as a leading international financial center and the difficulties it faces maintaining its status. Examines London's history as a financial center from Roman times to the present day. London's position in the 19th century rested on the great importance of Britain in the world economy and the role of sterling as the major international currency. By the mid-20th century both of these factors were much reduced in importance, but London was renewed as the physical home of the Euromarkets. Explores regulatory and other factors, including economies of agglomeration, which contribute to making a financial center.
Keywords: International Finance;
Governing Rules, Regulations, and Reforms;
Status and Position;
Financial Services Industry;