London’s new lord mayor: ‘It’s not just a ceremonial role’

The City of London will come to a standstill on Saturday as thousands of people take part in the annual Lord Mayor’s Show.

At the centre of the three-mile procession, inside an elaborate horse-drawn state carriage which has been used since 1757, will be the City’s new Lord Mayor, Alistair King.

The red robes, feathered hat and golden chain are not the reasons he’s become the 696th person to take on the position.

“There is no way I’d be doing this role if it was a largely ceremonial role. I’m at the top of my career… I’ve got my own businesses which I have set up – I would not be stepping away from it all.”

The City of London gained its first mayor in 1189, with the elected role developing over the centuries, particularly as the Square Mile has become a major financial centre.

“You’re the global ambassador for the United Kingdom’s financial professional services and effectively trying to create as many British jobs in those sectors as you possibly can,” Mr King explained.

As such, the new lord mayor aims to spend nearly a third of his year in office visiting “high growth markets” abroad, promoting British trade, and encouraging UK firms to look for new places around the world to do business.

“We’re world leaders in insurance, in maritime, in legal, professional services, all the rest of it.

“We are really good at what we do and I think it’s wonderful to be able to go out there and bang the drum about it all.”

Trips are also planned across the UK with the lord mayor’s role not only representing those based in the City.

“Effectively you’re the titular head for the 2.4 million people who are working in financial professional services and two-thirds of those people are based outside the south-east of England.”

Mr King sees the role as among the advantages Britain has to promote its financial services.

“Abroad, it is a big thing” and “people love the idea of seeing the lord mayor”.

“There are some peculiarities to the role [with the ceremonial robes], but it just differentiates it and it sticks it in people’s mind,” he said.

Another bonus, he said, was the hugely diverse mix of communities who are based in the capital, when “just no other city has that”.

“When we’re trying to do trade, for instance in Indonesia, we’ve got a big London-based Indonesian population and therefore it’s easier to do things because there are people there who understand the culture, who speak the language, who are already here.”

Mr King had previously said he would spend his year in office championing a theme of “growth unleashed” by “promoting a revitalised, resilient, and risk-ready City”.

While this could seem daunting at a time when analysts have predicted the UK economy will experience limited growth over the next few years, Mr King remains buoyant about the 12 months ahead.

“There are many reasons to be cheerful. There are obviously some concerns out there like geopolitics…. but interest rates are coming down, the cost of borrowing’s coming down around the world and particularly in Britain it’s a very robust jobs market.”

He sees Brexit as having had little effect on the City despite predictions it would be hugely damaging.

“If you look at the figures in relation to how many people worked in the Square Mile before Brexit and the figures now, it’s hugely increased”.

The election of Donald Trump is also something he is certainly not concerned about.

“The city had a good relationship with the last Trump administration, and I also think the City was ready for all the eventualities.

“We prospered under the last Trump administration, we’ll prosper under this one.”

Mr King said he wanted his year in office to be judged on whether “people feel that the City’s firing on more cylinders in a year’s time than it is now”.

But before all that, there’s the small matter of a televised procession, featuring about 7,000 people, 250 horses and 150 floats – and of course the horse-drawn state carriage.

“It is actually comfortable. It’s not bad at all,” the new lord mayor said, speaking about the centuries-old transport he’ll be travelling in.

“It’ll be great fun. I only hope it doesn’t rain.”

The Lord Mayor’s Show will be broadcast on BBC One from 10:45 GMT, or watch it back on iPlayer.