'New money' moves into area.A NEW breed of wealthy barristers, lawyers and investment bankers are "super-gentrifying" the area where Prime Minister Tony Blair Noun 1. Tony Blair - British statesman who became prime minister in 1997 (born in 1953) Anthony Charles Lynton Blair, Blair used to live in Islington Islington (ĭz`lĭngtən), inner borough (1991 pop. 155,200) of Greater London, SE England. Islington, in the north, is mostly residential, while Finsbury, in the south, is highly industrialized. , an academic claimed yesterday. The already gentrified area of Barnsbury in Islington - where the Blairs sold their family home in 1997 for a reported pounds 615,000 - is being transformed by the new group. The highlyvalued location, with its expensive terraced houses as well as lower income housing, is being transformed by a flood of new money from high salaries and bonuses in the financial world. Dr Loretta Lees of King's College London said "super-gentrifiers" or "financifiers" are largely the product of Britain's elite education system, particularly Oxbridge, and mainly work in large firms of solicitors, the Inns of Court or City investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. . Dr Lees said the new class who chose to live in the area were different to the traditional elites who call areas such as Chelsea and Notting Hill their home, and the super-wealthy who live in Mayfair and Kensington. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion