London is going through a difficult time, according to Stanhope Capital founder and Chief Executive Officer Daniel Pinto. 

Why? Its investment appeal is dwindling—a fact made clear by a range of companies choosing to list elsewhere. The trend has been developing for some time, and bodes ill for already-flagging UK initial public offerings, says Pinto. While noting that London remains a leading financial center, he warns it has lost its competitive edge.

In this week’s episode of In the City, Pinto tells hosts David Merritt and Francine Lacqua why he thinks London has been losing out. Brexit wasn’t helpful he concedes, but that’s not the only reason. The key factor is that the pool of money available for investment in British public markets has shrunk. That can be fixed with changes to regulations and pension fund reform, he says.

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