Vision for Economic Growth — a roadmap to prosperity 53 About Oliver Wyman Oliver Wyman is a global leader in management consulting. With o昀漀ces in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The 昀椀rm has more than 6,000 professionals around the world who work with clients to optimize their business, improve their operations and risk pro昀椀le, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit www.oliverwyman.com. Report Quali昀椀cations/Assumptions, and Limiting Conditions Oliver Wyman was commissioned by the City of London Corporation as the delivery collaborator for Vision for Economic Growth — a roadmap to prosperity initiative — which aims to develop a long-term plan to reinforce and renew the UK’s role as a global 昀椀nancial centre. The primary audience for this report includes public and private sector stakeholders. Oliver Wyman shall not have any liability to any third party in respect of this report or any actions taken or decisions made as a consequence of the results, advice or recommendations set forth herein. This report does not represent investment advice or provide an opinion regarding the fairness of any transaction to any and all parties. This report does not represent legal advice, which can only be provided by legal counsel and for which you should seek advice of counsel. The opinions expressed herein are valid only for the purpose stated herein and as of the date hereof. Information furnished by others, upon which all or portions of this report are based, is believed to be reliable but has not been veri昀椀ed. No warranty is given as to the accuracy of such information. Public information and industry and statistical data are from sources Oliver Wyman deems to be reliable; however, Oliver Wyman makes no representation as to the accuracy or completeness of such information and has accepted the information without further veri昀椀cation. No responsibility is taken for changes in market conditions or laws or regulations and no obligation is assumed to revise this report to re昀氀ect changes, events or conditions, which occur subsequent to the date hereof.