Paul Drechsler pledges to use Brexit as opportunity for business as he swaps CBI for London First

The Confederation of British Industry president Paul Drechsler is to become chairman of lobby group London First, pledging to use Brexit as an opportunity to improve the environment for the capital’s businesses and residents.

Drechsler will take on the reins on 1 July, after his three-year term at the CBI concludes. He is taking over from John Allen, who has also served for three years.

London First campaigns to keep London the best city in the world to do business and represents more than 200 firms, including Starbucks, Lloyds Banking Group, Airbnb, Berkeley Homes, PwC and Canary Wharf Group.

Drechsler said: “London is at the sharp edge of Brexit but, if business and policy makers work together, there is an opportunity to shape our economic future and tackle the housing, skills and infrastructure challenges that are holding too many back.”

Drechsler has been an outspoken critic of Brexit during his time at the CBI, particularly regarding the government’s handling of the process.

Just this week he called on Prime Minister Theresa May to “break the Brexit logjam” and deliver a customs union proposal that was “pragmatic”, enabling businesses to “move on”.

Jasmine Whitbread, London First chief executive, said: “Paul has proven himself as a brilliant advocate for business and the positive role it can play, across education, skills and facing up to Brexit. His insight, experience and persuasiveness will be a fresh shot in the arm for London – keeping our capital open to the world and delivering for the UK at this critical time.”