Lord Mayor of London been mandatory for election to the Lord Mayoralty. Two Sheriffs are selected annually by Common Hall, which meets on Midsummer's Day for this purpose. By an ordinance of 1435, the Lord Mayor must be chosen from amongst the Aldermen of the City of London. Those on the electoral roll of each of the City's 25 Wards select one Alderman, who formerly held office for life or until resignation. Now each Alderman must submit for re-election at least once in every six years. The Lord Mayor is then sworn in November, on the day before the Lord Mayor's Show ("see below").
Lord Mayor of London government ministers, businessmen and dignitaries; furthermore, they conduct several foreign visits of their own so as to promote British financial sectors. Banquets hosted by the Lord Mayor serve as opportunities for senior Government figures to deliver major speeches. At the Lord Mayor's Banquet (held on the Monday after the Lord Mayor's Show), the Prime Minister delivers the keynote address. At the Banker's Dinner in June, the Chancellor of the Exchequer delivers a speech known as the "Mansion House Speech", which takes its name from the Lord Mayor's residence. At the Easter Banquet, also hosted each year at the Mansion House,