Description
Similar to other geographies, the UK has institutional groups who lobby for financial services, including a focus on the City of London. Founded in 2010 in the shadow of the global financial crisis and a perceived anxiety for a cross-sectoral entity, TheCityUK is now the main such body for UK finance. The organisation plays a prominent role providing both summary knowledge on, and networking possibilities for, UK-based financial players. However, beyond the TheCityUK’s own story, we know little about its history, internal functioning, and wider political impact. This paper argues that the organisation is involved in the manufacturing of information, influence, and images which are aimed at expanding and legitimising the power of the financial industry. Two dimensions are explored. First, TheCityUK’s conventional visible lobbying work is unpacked, including publications, event management, and networking. Second, the more subterranean position of the body within UK government agendas is examined, including how it deploys its extensive connections to further private interests. A spotlight is draw on its underappreciated role passing the landmark Financial Services and Markets Act 2023. The paper makes a wider contribution on understanding the reproduction of power in finance, particularly the ties between institutional power and discursive power.
