In March 1996, the London Financial News published its first edition. It included an article written by John Major, the soon to be former prime minister, on why he loved the City of London.

At the time, the London Stock Exchange was looking for a chief executive. Harrods owner Mohammed al-Fayed was planning to launch a corporate governance foundation. Deutsche Morgan Grenfell was looking to hire 400 bankers. Strange names such as Baring Brothers, BZW, Hill Samuel, James Capel, NatWest Markets, Salomon Brothers and SBC Warburg were battling for dominance in the European capital markets.