Despite ongoing global economic and geopolitical uncertainty, confidence in London’s capital markets is strengthening markedly. This is the key takeaway from Deutsche Bank’s fourth annual Raised in London report, which gathers insights from 150 directors and senior leaders at UK-listed companies (including FTSE 100, FTSE 250, AIM, and other listed entities). The findings reveal a renewed and robust optimism regarding the UK’s attractiveness as a premier destination for capital, investment, and corporate growth.
To help you dive deeper into these findings, we have launched a dedicated Raised in London Hub. Alongside the comprehensive report, the landing page features:
An Exclusive Video: Key takeaways broken down by our market expert.
The Podcast Episode: An in-depth discussion on what these findings mean for the future of UK corporate finance.
Featured FT Coverage: Read the Financial Times article, "Deutsche Bank survey finds confidence returning to London’s capital markets", analysing the wider implications of our research.
The survey demonstrates a significant positive shift in sentiment across multiple areas, from IPO readiness to macroeconomic confidence:
Growing Market Appeal: 87% of respondents believe the appeal of the UK as a capital market and investment destination has increased over the past 12 months.
IPO Optimism: 97% agree the UK is an attractive market for launching an IPO or raising capital, while 94% expect UK IPO volumes to increase over the next 24 months.
Economic Resilience: 90% of business leaders are more confident about the UK’s growth prospects than they were two years ago, with 95% noting that the Government’s growth strategies have improved the UK's investment appeal.
M&A Appetite: 87% anticipate increased UK M&A activity over the next year, and 90% say their own organization is likely to undertake an acquisition.
Improved Financing: 93% of respondents have observed positive developments in debt pricing or financing availability.
Leadership Perspectives
“ The most striking feature of this year's survey is the breadth of the improvement in sentiment. Business leaders expect stronger IPO activity, increased fundraising, greater M&A activity and more supportive financing conditions. That reflects growing confidence in both the UK economy and London's capital markets.” Alison Harding-Jones, Co-Head of the Investment Bank and Global Head of Investment Banking and Capital Markets
“ London remains one of the world's leading financial centers, supported by deep pools of expertise, a strong legal and regulatory framework and a global investor base. Our findings suggest companies are increasingly optimistic about the UK's prospects and London's ability to compete internationally.” James Taylor, Head of UK Investment Banking
“ Boards are becoming more positive about the outlook for UK-listed companies and the opportunities available through the public markets. The survey shows strong support for reforms that strengthen domestic investment and improve access to growth capital.” Vathany Vijayaratna, CEO of Deutsche Bank in the UK and Ireland
While the outlook for London is demonstrably improving, the report concludes that sustaining this momentum requires a continued focus. Respondents highlighted several areas for ongoing development, including:
Further regulatory reforms to maintain market agility.
Mobilising long-term domestic capital.
Improving market valuations and deepening liquidity to support high-growth companies at every stage of their journey.
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The value of investments can fall as well as rise and an investor may not get back the amount originally invested at any point in time. No assurance can be given that any investment described herein would yield favourable investment results. DB may engage in transactions in a manner inconsistent with any views set out herein. DB trades or may trade as principal in any instruments mentioned herein (or related derivatives), may have proprietary positions in these instruments (or related derivatives) and/or may make a market in these instruments (or related derivatives) or (amongst other things) provide advice or loans or other financial products to, or participate in any underwriting or restructuring or other transactions with or in respect of persons mentioned herein. Deutsche Bank AG is a stock corporation (Aktiengesellschaft) incorporated under the laws of the Federal Republic of Germany with its principal office in Frankfurt am Main. It is registered with the local district court (Amtsgericht) in Frankfurt am Main under No HRB 30000 and licensed to carry on banking business and to provide financial services. The London branch of Deutsche Bank AG is registered as a branch office in the register of companies for England and Wales at Companies House (branch registration number BR000005) with its registered branch office address and principal place of business at 21, Moorfields, London EC2Y 9DB. Deutsche Bank AG is subject to supervision by the European Central Bank (ECB), Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany, and the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht or BaFin), Graurheindorfer Strasse 108, 53117 Bonn and Marie-Curie-Strasse 24-28, 60439 Frankfurt am Main, Germany. With respect to activities undertaken in the United Kingdom, Deutsche Bank AG is authorised by the Prudential Regulation Authority. 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Despite ongoing global economic and geopolitical uncertainty, confidence in London’s capital markets is strengthening markedly. This is the key takeaway from Deutsche Bank’s fourth annual Raised in London report, which gathers insights from 150 directors and senior leaders at UK-listed companies (including FTSE 100, FTSE 250, AIM, and other listed entities). The findings reveal a renewed and robust optimism regarding the UK’s attractiveness as a premier destination for capital, investment, and corporate growth.
To help you dive deeper into these findings, we have launched a dedicated Raised in London Hub. Alongside the comprehensive report, the landing page features:
The survey demonstrates a significant positive shift in sentiment across multiple areas, from IPO readiness to macroeconomic confidence:
Leadership Perspectives
While the outlook for London is demonstrably improving, the report concludes that sustaining this momentum requires a continued focus. Respondents highlighted several areas for ongoing development, including:
To read the full breakdown of the data, watch the expert-led video, listen to the podcast, or read the external coverage in the Financial Times, visit our dedicated hub today.
IMPORTANT NOTICE
By accepting these materials, the recipient shall be deemed to have agreed to the provisions and limitations set out in this notice. These materials have been prepared by representatives of the Investment Banking division of Deutsche Bank AG or, as the case may be, any of its affiliates (as applicable, “DB”) and represent only the views and opinions of the individual authors. They have not been reviewed, endorsed, or otherwise approved by, and are not a work product of, any other department or division of DB, including the Research Department. These materials are intended merely to highlight aspects of the relevant matters to which they relate, are for general information purposes only and are intended only for use by the recipient for his/her own personal reference. These materials are solely distributed by the relevant DB entities that possess the necessary licenses to distribute the materials in the respective jurisdictions (and shall not otherwise be intended for distribution). These materials are being directed at persons who are professionals and are not intended for retail customer use. Not all products or services that may be mentioned in the materials are available in all jurisdictions. In any event, no offers, sales, resales, or delivery of any products or services as may be described herein or any materials relating to any such products or services may be made in or from any jurisdiction except in circumstances which would result with compliance with any applicable laws and regulations and which would not impose any obligations on DB. DB has not acted (and does not purport to act in any way) in a fiduciary capacity. These materials are not intended to be comprehensive and do not constitute financial, investment, legal, regulatory, accounting, actuarial, tax or other advice, nor do they constitute an offer or solicitation for the purchase or sale of any financial instrument or to enter into any other agreement or a recommendation for any investment product or strategy. The recipient must make their own independent assessment and such investigation as the recipient deems necessary in relation to the matters set out herein. No reliance should be placed upon these materials in connection with any actual transaction or investment. These materials speak only as of their date, and any views expressed in these materials are based upon conditions as they exist and are, therefore, subject to change. Any such changes and/or events occurring after the date of these materials could materially affect the content and views set out in these materials. These materials do not purport to contain a complete description of the matters set out herein. The analyses contained in these materials are not, and do not purport to be, appraisals of the assets, stock or business of any person. These materials may not be summarized or otherwise reproduced, distributed or referred to, in whole or in part, without the prior written consent of DB. The information used in preparing these materials was obtained from sources believed to be reliable, but DB does not assume any responsibility for the independent verification of any such information and has relied on such information being complete and accurate in all material respects. DB makes no representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of such information, these materials (including any opinion contained in these materials), any of their contents or any of the results that can be derived from these materials and no responsibility or liability is accepted by DB in relation to such materials including (without limitation): (i) in relation to the distribution of possession of these materials in any jurisdiction; (ii) for any loss or damage of any kind whatsoever arising as a result of the use or misuse of these materials; (iii) for updating or revising these materials; or (iv) for correcting any inaccuracy in these materials. Analyses and opinions contained in these materials may be based on assumptions that, if altered, could materially change the analyses or opinions expressed. No audit of these materials has been undertaken by an independent third party. Any statement, estimate or projection included in these materials (or upon which any of the conclusions contained in these materials are based) with respect to anticipated future performance may prove not to be correct. No representation or warranty, express or implied, is given as to the completeness or accuracy of any forward-looking statement contained in these materials or the accuracy of any of the underlying assumptions. Information about past performance is given for illustrative purposes only and should not be relied upon and is not an indication of future performance. DB has not verified the achievability of any estimate or forecast, nor of any of the methods underlying the preparation of any estimate or forecast. The products and investments mentioned in these materials are subject to investment risk, including (without limitation) market fluctuations, regulatory change, counterparty risk, possible delays in repayment and loss of income and principal invested. The value of investments can fall as well as rise and an investor may not get back the amount originally invested at any point in time. No assurance can be given that any investment described herein would yield favourable investment results. DB may engage in transactions in a manner inconsistent with any views set out herein. DB trades or may trade as principal in any instruments mentioned herein (or related derivatives), may have proprietary positions in these instruments (or related derivatives) and/or may make a market in these instruments (or related derivatives) or (amongst other things) provide advice or loans or other financial products to, or participate in any underwriting or restructuring or other transactions with or in respect of persons mentioned herein. Deutsche Bank AG is a stock corporation (Aktiengesellschaft) incorporated under the laws of the Federal Republic of Germany with its principal office in Frankfurt am Main. It is registered with the local district court (Amtsgericht) in Frankfurt am Main under No HRB 30000 and licensed to carry on banking business and to provide financial services. The London branch of Deutsche Bank AG is registered as a branch office in the register of companies for England and Wales at Companies House (branch registration number BR000005) with its registered branch office address and principal place of business at 21, Moorfields, London EC2Y 9DB. Deutsche Bank AG is subject to supervision by the European Central Bank (ECB), Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany, and the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht or BaFin), Graurheindorfer Strasse 108, 53117 Bonn and Marie-Curie-Strasse 24-28, 60439 Frankfurt am Main, Germany. With respect to activities undertaken in the United Kingdom, Deutsche Bank AG is authorised by the Prudential Regulation Authority. It is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of Deutsche Bank AG’s authorisation and regulation by the Prudential Regulation Authority are available from Deutsche Bank AG on request.
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