Alderman Alastair King took office as the 696th Lord Mayor of the City of London on Friday, 8 November 2024, succeeding Professor Michael Mainelli. His Mayoral theme, ‘Growth Unleashed’, promoted a “revitalised, resilient, and risk-ready City” with two central pillars: competitiveness and communities.
1. Global Ambassador and Economic Focus
The Lord Mayor’s primary role as a Global Ambassador for the UK’s financial and professional services industry was a key focus. Alderman King led overseas business delegations to international markets, aiming to strengthen global economic ties, identify new business opportunities, and promote the UK as a top destination for foreign investment. This included visits to a number of countries to champion the UK’s financial sector.
2. Driving ‘Growth Unleashed’
The core of the Mayoralty was the ‘Growth Unleashed’ theme, which was split into two main areas of activity:
The Competitiveness Pillar: Responsible Risk and Technology
Alderman King, an experienced financier and asset manager, focused on reigniting the City’s appetite for responsible risk-taking and accelerating the adoption of new technologies. Key initiatives included:
- Challenging Risk Aversion: Engaging regulators and industry leaders to move away from unnecessary risk-aversion, repositioning the Chief Risk Officer (CRO) role as a “strategic enabler of growth.” This was highlighted at the inaugural Chief Risk Officers Summit.
- Mobilising Capital: Working to mobilise private capital to early-stage companies and productive sectors of the economy. The Mayoralty reinforced the Mansion House Accord, a major industry-led initiative where leading UK workplace pension providers pledged to allocate capital to private markets.
- Technology Adoption: Promoting the early adoption of dynamic new technologies like Artificial Intelligence and Machine Learning in the financial sector. This involved initiatives such as Lord Mayor’s hackathons and Pitch at the Mansion House events to connect capital with high-growth British technology companies.
- Lord Mayor’s Awards: The Lord Mayor’s Award was used to recognise and celebrate UK tech companies—such as Aspect Capital, Tide, Neighbourly, and Guavapay—that demonstrated leadership in innovation, growth, and social purpose.
The Communities Pillar: Celebrating Diversity and Inclusion
The second pillar focused on celebrating the diverse communities that contribute to the City.
City Belonging Networks: A significant initiative was the launch of a series of City Belonging Networks. These networks were designed to bring Employee Resource Groups and individuals across the Square Mile together to foster collaboration and celebrate accomplishments. Initial networks launched included those for the Muslim, Jewish, LGBT, and Armed Forces Veterans communities.
* Charitable Work: The Lord Mayor championed the charitable interests of the Lord Mayor’s Appeal, which supported partner charities and thought-leadership initiatives like the Power of Inclusion and This is Me, focusing on creating a more inclusive, healthy, skilled, and fair City.
3. Other Civic Responsibilities
In addition to his global ambassadorial and thematic work, Alderman King fulfilled his other civic duties:
Rector of City St George’s: He was installed as the first Rector of City St George’s, University of London in January 2025, in his capacity as the Lord Mayor, and was awarded an honorary Doctor of Science.
Lord Mayor’s Show: The year officially began with the traditional Lord Mayor’s Show on Saturday, 9 November 2024.
Civic Career: The Lord Mayor’s term built upon his 24 years of continuous service with the City of London Corporation, including previous roles as Common Councillor, Alderman, and Sheriff of London (2022-23). He is also a Liveryman of eleven City Livery Companies.