Member Article

Brexit fallout: Sadiq Khan appoints new Deputy Mayor for Business

Mayor of London Sadiq Khan has appointed RationalFX co-founder Rajesh Agrawal as his Deputy Mayor for Business as he firms up his calls to protect London’s jobs and skills in the wake of last week’s Brexit vote.

Rajesh, who made his name after founding international FinTech firms RationalFX and Xendpay, will be tasked with protecting the capital’s interest during any exit negotiations following the EU referendum.

Khan and his new deputy mayor already worked together on the Mayor’s successful election campaign where Rajesh took up the role of business advisor.

The self-made millionaire, who is originally from India, has a big job on his hands ensuring that nerves in the City are calmed, with dire predictions about the state of the capital’s financial services sector if the UK loses access to the single market, and fears for job and wealth creation.

Reiterating his calls yesterday for more devolved powers to protect London’s skills and jobs, the Mayor said: “London must stay in the single market and be given more powers to ensure we can remain competitive, in order to attract the global enterprise that London’s prosperity relies on.

“Having arrived in London equipped with the ambition to succeed, Rajesh has created a multi-million pound business from scratch and knows first-hand the challenges that our business leaders face, and what it takes to be a successful entrepreneur.

“I know that Rajesh is the best person for the job of protecting jobs and growth in London as we deal with the fallout of the referendum.”

Rajesh added: “Having run my own global businesses, I know how important it is that London remains welcoming to European and international trade.

“I stepped on a plane for the first time 15 years ago to make the journey to London, and found a city that welcomed me with open arms and didn’t make me feel like a stranger. This openness to talent and enterprise must not change as a result of the referendum.

“I share Sadiq’s belief that a thriving economy is critical to ensure that all Londoners can share in our great city’s future success.

“The Mayor and I are determined to build a coalition that ensures the needs of business and financial services are at the fore over the coming months of negotiations with the EU. My first priority will be to listen and engage with businesses, to hear their concerns and deliver reassurance.”