February 1906 City of London by-election February 1906 City of London by-election The City of London by-election, February 1906 was a parliamentary by-election held on 27 February 1906 for the British House of Commons constituency of City of London, which covered the "Square Mile" which was the United Kingdom's traditional financial district. The seat had become vacant on the resignation of Alban Gibbs, one of the constituency's two Conservative Members of Parliament (MPs). Gibbs had resigned in order to provide a safe seat for Arthur Balfour. He would go on to succeed his father, Hucks Gibbs, as Baron Aldenham the following year. Balfour had been out
Economy of London firms, insurance companies and reinsurance markets. London is notable as a centre of international finance where foreign participants in financial markets come to deal with one another. It is also home to the Bank of England, the second oldest central bank in the world, and the European Banking Authority, although the latter is moving to Paris in March 2019 following the Brexit referendum of 2016. Other key institutions are Lloyd's of London for insurance, the Baltic Exchange for shipping. A second financial district has developed at Canary Wharf to the east of the City, which includes the global headquarters of