City of London Since 1991 Canary Wharf, a few miles east of the City in Tower Hamlets, has become another centre for London's financial services industry which houses many banks and other institutions formerly located in the Square Mile. Although growth has continued in both locations, and there have been relocations in both directions, the Corporation has come to realise that its planning policies may have been causing financial firms to choose Canary Wharf as a location. Many major global companies have their headquarters in the City, including Aviva, BT Group, Lloyds Banking Group, Old Mutual, Prudential, Schroders, Standard Chartered, and Unilever. A
East London Tech City East London Tech City East London Tech City (also known as Tech City and Silicon Roundabout) is the term for a technology cluster of high-tech companies located in Shoreditch/St Luke's and also in Hackney Wick in London, England. Its nucleus broadly occupies an area between St Luke's and Hackney Road. A cluster of web businesses initially developed around the Old Street Roundabout in 2008. The area had historically been relatively run down compared to the City. The 2008–09 recession further suppressed rents through the closure of numerous firms, making it affordable to technology start-ups, while redundancies from financial services companies,