> Not at all!

Well give them a reason to overcome that inertia (like Brexit and its regulatory mismatches) and they flee. New Financial's estimate is 10% of the sector has gone, mostly to Dublin, Frankfurt and Paris. And there's definitely a cost-driven pull towards the north of the UK too. Insurance more than banking has diversified.

But that's slightly beside the point that, these are rich companies, and a few rich people. London is not Monaco, Geneva. Just 2% of London's population are liquid-millionaires (vs 35%, 15%). Other UK cities can probably beat it millionaires per capita if that's what's important.

As soon as you look at median salaries, London does attract a premium, but £5k does not offset the insane costs.