Peter Harrison, chief executive of FTSE 100 listed asset manager Schroders, says proposals designed to encourage international companies to list in London will reinvigorate the City, allowing it to embrace some of the world's fastest growing businesses.

Harrison told Financial News that proposed new rules unveiled by Lord Hill on 2 March, which aim to position London as a leading centre for listings, would also prevent the UK from losing some of the country's best start-ups to other financial centres, such as New York or Amsterdam.