Peter Estlin, a veteran banker who has held senior finance roles at Citigroup and latterly Barclays, has been elected the 691st Lord Mayor of the City of London, the local authority that administers the Square Mile.

Estlin, 57, has been elected for a one-year term beginning on November 9, and will take a one-year sabbatical from his current role as a senior adviser to Barclays.