Darling seeks to maintain City's financial reputation

The move comes after fears the credit crunch may cause London to lose the status it has built up over the last decade, and many jobs are likely to be lost in the City. The working groups will look at a number of different issues that affect the financial services, including regulation and raising capital. One group, to be chaired by Darling and Sir Win Bischoff, head of Citigroup, will examine competitiveness in financial services. It will consist of key staff from the London Stock Exchange, Lloyd’s of London and the CBI. A second group, to be chaired by FSA chief executive Hector San...