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Page last updated at 10:36 GMT, Friday, 9 November 2012

How new lord mayor will help the City

The 685th lord mayor of London takes up his post today and his brief is to promote and support the people and businesses of the City of London.

Roger Gifford explained to Today business presenter Justin Rowlatt, "I'm confident that we can help people understand better what the City does."

"Money is not an end in its self," he added

"It must be seen as part of society and part of the community it serves."

He went on to acknowledge that banks have not been very good at telling people what they do.

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