This week I attended the Election of the next Lord Mayor of the City of London Corporation (CoLC) at the Guildhall along with around 1000 other Liverymen of the City’s Livery companies. The election has been taking place since 1189 and it is one of the privileges of the City of London that was protected by various kings. It is almost certainly a unique ceremony in the whole world. I have attended every election since 2013 when I became a Warden of my Livery Company, the Marketors, and I regard it as one of the most important dates in the Civic calendar.

The current Lord Mayor and Sheriffs in state firstly arrive at the Guildhall and are received by the Aldermen and officers in the Aldermen’s Court Room. The Masters, Prime Wardens and Upper Bailiff of the 111 Livery Companies and the Livery Committee assemble in the Crypts and  then process to the Guild Church of St. Lawrence Jewry where they are joined by another procession consisting of the Assistant Remembrancer, Chief Commoner, Sheriffs’ Chaplains, Honorary Secondary Remembrancer, Comptroller and City Solicitor, Commissioner of the City of London Police, Common Serjeant, Chamberlain, Town Clerk, Sheriffs, Aldermen, City Marshal, the Lord Mayor’s Chaplain, the Mace, the Sword and the Lord Mayor.

A short service is held in the Church which is also open to the public and then all these dignitaries process to the Great Hall. After a few rounds of other business we come to the matter of the election. The Common Serjeant reads to the Livery the list of the names of those Aldermen below the chair (that is they have not yet been Lord Mayor) but have served in the office of Sheriff. He informs them that out of the Aldermen named they are to return two to the Lord Mayor and Aldermen for them to choose which of the two should be Lord Mayor for the year ensuring. There is the possibility that a poll can be demanded which would mean the involvement of all of the Liverymen. This is extremely rare and is not desirable as it both takes time and is quite expensive. It is usually managed in such a way that no poll is called.

This year there were five such Aldermen who have served as Sheriff but not yet as Lord Mayor. These were Alderman Alistair King, Alderwoman Dame Susan Langley, Alderman Timothy Hailes, Alderman Bronek Masojada and Alderman Alison Gowman. This was a formidable list of people who have had both outstanding records in their working life as well as in their civic roles. The Court of Aldermen had already indicated their preference and it would be unusual for the Liverymen not to follow that and that is indeed what happened. The two preferences were for Alderman King and Alderwoman Dame Susan Langley. All five names were put to the Liverymen present and they are asked to raise their hands for those that they prefer and it is customary for them to collectively say “All” as well as raising their hands. The Sheriffs then decide what they believe is the result and sure enough Alderman King and Alderwoman Dame Susan Langley were the two names that were selected. Those names are then submitted back to the Court of Alderman who in a separate room reach their decision. During that time which takes about 15 minutes Common Hall is addressed by the Deputy Town Clerk who gave a most amusing speech explaining quite a lot of the history of the role of Lord Mayor and its various connections with royalty over the years. This meant that he quite often made references to ‘the King’ which of course was a hint as to what was going to be the outcome of the election.

Sure enough when the procession re-emerged this time Alderman King was accompanied by the current Lord Mayor Michael Mainelli indicating that he was the chosen candidate and so spontaneous applause broke out.

Alistair was elected as Sheriff of the City of London in June 2022 and served in that role from September 2022 to September 2023. He qualified as a solicitor in the City of London in 1995. He practised in both London and Asia with the leading international law firm Baker McKenzie, with whom I have had dealings in the past. He joined a leading venture capital firm, New Media Investors in 1999 which provided early-stage capital for some of the UK's leading technology companies. In 2002 he and a business partner took control of a small LSE quoted investment vehicle which they turned into a highly successful buyout firm. In 2006, Alastair founded his own fund management company and in parallel founded, raised and ran an LSE quoted fund to invest into Indian infrastructure projects.

Currently he is on the board of five City of London-based financial services companies, four of which he chairs. Of the five companies, four are FCA-regulated and he owns two -Naisbitt King Asset Management Limited (a fund manager) and Naisbitt King Limited (a family office). He is also chair of the Advisory Board of Urbium Capital, a new real estate fund investing overseas capital into the UK.

Alistair is Chair of the British Liver Trust, (the national liver charity) and Treasurer of the long-established City charity, the Metropolitan Drinking Fountain and Cattle Trough Association. He is also a Trustee of the Royal Regiment of Scotland Trust.

As to his civic career, having lived in the Ward of Queenhithe in the City of London since 1991, Alistair was elected to the Court of Common Council for the Ward in 1999. He was appointed Deputy in 2006 and then elected as Alderman in 2016. During his continuing 25 years of service with the City of London Corporation he has had active roles in a number of key Committees, including Finance and Planning and Transportation. He is Chair of the Investment Committee and Trustee of some of the City's charities.
 Alistair has substantial involvement in the Livery movement including being a Past Prime Warden of the Blacksmiths (his Mother company) and a Past Master of the Masons.

 In February 2022 he was deeply honoured to be commissioned as a Deputy Lieutenant for Greater London.

Alastair is active in business groupings, both in the United Kingdom and around the world. He serves as a member of the Scottish Government Financial Services Growth and Development Board. He is Secretary of the UK Parliament's All-Party Parliamentary Group on Sovereign Wealth Funds. He was until recently Chair of the Institute of Directors, London Region. He is a member (and past three-time Chapter Chair) of the Young Presidents’ Organisation and a member of CEO, an invitation-only group of 2000 leading CEOs from around the world.

Of proud Scottish heritage, Alastair was educated at Oundle school and at the University of Bristol, the University of Kent, the College of Law in London and the London Business School.

As the elected head of the City of London Corporation, he will serve as a global ambassador for the UK financial and professional services industry from Friday 8 November for a one-year term. He will succeed current Lord Mayor Professor Michael Mainelli.
The Lord Mayor acts as an international spokesperson for the City, leading business delegations overseas to key international markets on behalf of the UK’s financial and professional services industry.

In the role Alderman King will meet government representatives from around the world, alongside business leaders and policy makers both at home and abroad. He will work to strengthen global economic ties with the UK, identify new business opportunities, and promote the UK as a top global destination for foreign investment. When he travels representing Financial and other Professional services for the whole of the UK, not just the City of London he has cabinet rank and is welcome by all countries as he is not in a political role.

During his Mayoral year, Alderman King will champion his ‘Growth Unleashed’ theme, by promoting a revitalised, resilient, and risk-ready City. His theme will focus on challenging industry to maximise opportunities through responsible risk taking, driving the adoption of technologies, and celebrating the successes of the many diverse communities across the UK.

‘Growth Unleashed’ will look to drive growth and investment particularly in areas where the UK has a competitive advantage. As habitual early adopters of dynamic new technologies, the programme will seek to mobilise private capital to early-stage companies, productive sectors of the economy and promote pro-innovation regulation.

He will also champion the City and UK’s diverse communities by establishing new networks to bring together different communities to foster collaboration, celebrate achievements, promote growth.

Lord Mayor Elect, Alderman Alastair King DL, said: "It is a tremendous honour to be elected as the 696th Lord Mayor of the City of London.

"London remains the world’s leading financial centre, but global competition is fierce. We have the expertise and talent to thrive, yet we must do more to unlock growth, equip people to innovate, and harness the remarkable dynamic diversity that makes the City exceptional. ‘Growth Unleashed’ is a commitment to be bolder, think smarter and take our foot off the brake.

"The City must reignite its appetite for risk, seize our national edge in innovation, and support the productive parts of the economy. Only then can we secure our position as the world’s top financial hub."

In accepting the role of being the 696^th Lord Mayor he made much of the fact of this amazing number. While the position of Archbishop of Canterbury was much older going back to the 6^th century AD, there have been fewer than 100 in the role that Justin Welby has today. Indeed Alastair had consulted with the distinguished historian Andrew Roberts, Baron Roberts of Belgravia, who thought it most unlikely that any other leading role of this type has had as many holders of the office.

It occurred to me that Alistair’s adopted theme of “Growth Unleashed” might bear similarity with the new government’s priority of “growth.” If so then I think the government may have more chance as at least in the new Lord Mayor they have a collaborator who knows something about generating business growth.