City of London elects a new Lord Mayor every year. The Lord Mayor must have served as a Sheriff of the City, and since 1435 he or she has been chosen from among the City's Aldermen.

The election happens at Michaelmas, which is the 29th of September. The chosen candidate is known as the 'Lord Mayor Elect' until the day before the Lord Mayor's Show, when he or she is sworn into office in the Silent Ceremony. The Lord Mayor's Show then completes the process by delivering the new Lord Mayor to Westminster to swear loyalty to the Crown.

The 694th Lord Mayor of London will be Alderman Nicholas Lyons of the Tower Ward, who is taking a sabbatical from his role as the chairman of Phoenix Group.

The duty of the Lord Mayor, both traditionally and in the modern world, is to promote and represent the City of London. Alderman Lyons will serve as a global ambassador for the UK-based financial and professional services industry.

During his Mayoral year, Alderman Lyons will also champion his ‘Financing our Future’ theme by promoting a resilient, resourceful and responsible City.  It will focus on fuelling the economy by deploying capital and expertise to supercharge economic growth nationwide and advancing the UK’s global competitiveness. 

‘Financing our Future’ will seek to drive growth and investment especially in the areas of long-term infrastructure lending, green and sustainable finance, boosting the early-stage growth economy by mobilising private savings and pension funds, and attracting international asset owners to have more of their money managed by asset managers in the UK. This will be underpinned by a commitment to financial inclusion for all.