A combination of rapid deregulation of securities markets, rising equity prices and significant growth in M & A activity have been the key factors behind the growth of London as the centre of European capital market activity in recent years.
All the major investment banks and a very substantial number of investment management companies now have their European headquarters in London.
As a result, there has been substantial growth in employment across all areas of the investment banking industry, with compensation levels rising towards those of Wall Street.
