Barclays pledges support to Mayor's Fund

Barlcays president Bob Diamond outlined why the bank is supporting the Fund through its business club.

He said: "You cannot work in Canary Wharf and fail to recognise, amid the steel and glass of the corporations, that we work within one of the poorest regions in London.

"Over the past 50 years there has been little improvement in the number of London's children living in poverty.

"The Mayor's Fund takes a pragmatic approach to getting money into the community and Barclays is proud to be a trustee."

The Fund, founded by Mr Johnson in April, aims to raise £15million though 50 trustees making a minimum investment of £10,000 before the end of next year.

Coutts, who also have a Canary Wharf office, also confirmed its involvement as a trustee, although has not provided details of its support.

Trustees already signed up include The Savoy, while Goldman Sachs is expected to join soon.

Corporate giving declined last year as the economic crisis took its toll but announcement by Barclays indicates that trend might be reversed.

For more on the Mayor's Fund visit mayorsfundforlondon.org.uk.