Debate over the future of the City is not new. Various threats, from the gnomes of Zurich in the 1960s to a New York flush with petro dollars in the 1970s, Tokyo awash with capital in the 1980s and, more recently, Singapore on the back of the Asia boom have all menaced London’s position as a global financial capital.

The latest supposed threat is Brexit. However, the factors that underpin London’s success and have sustained its leading position as a financial centre are still sound. Its capacity to reinvent itself to meet the challenges of every decade and the sheer scale of its resources mean that the UK leaving the European Union is not a crisis.