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
Royal Commission on the Amalgamation of the City and County of London each of these issues. The new central body, which was to be called the Corporation of London, or more formally the "mayor and commonalty and citizens of London", was to be the legal successor of both the existing city corporation and the London County Council. In effect the status of city was to be extended from the old City to the area of the entire county, which would be redesignated as the City of London. The new city was to be governed by a council. The first matter addressed was the membership and method of election of the central body.