Hands off Barclays, Boris Johnson warns New York mayor Michael Bloomberg

Boris Johnson warned New York mayor Michael Bloomberg against "pinching" Barclays away from London today.

The Mayor went into battle with the billionaire politician over his suggestion the global bank could relocate to the US financial centre.

He said Barclays had "laid down roots" in the capital and that it would be a "tragedy" if it moved its headquarters outside the UK.

Mr Bloomberg's remarks came after a report by analysts UBS that suggested the bank should consider relocating because of the likelihood of strict new regulations on the financial sector.

Mr Johnson has argued repeatedly against tighter banking laws and the higher 50prate of income tax, issuing dire warnings that the measures could force thousands of bankers to quit the capital.

He insisted the Government understood the importance of sending "ever clearer signals" to the global financial elite that London was a place to do business.

He told the Standard: "Barclays is a British bank that has quite literally laid down roots here with the cycle bike scheme it has sponsored over the last nine months.

"It would be a tragedy to lose them. This underlines the fact that the threat and challenge to our successful financial services sector is real.

"We cannot afford to be complacent about competition and much as I welcome the hints in the recent Budget that the Chancellor understands the threat we face, we have to send ever clearer signals to these massive job and wealth creators that we do not take them for granted. We appreciate they have other options, but we want them to stay here in London."

An aide close to the Mayor added: "The only reason New York thinks pinching Barclays off us is a realistic prospect is because of the situation here."

New York mayor Mr Bloomberg said it would be "great for us" if Barclays followed the UBS advice and moved its main office to New York.

He added: "I hope they move here. Every day, every city in this country and in this world is trying to get those businesses."

Mr Johnson has always had a healthy rivalry with Mr Bloomberg, and has brought up London's lower crime rate on more than once occasions in meetings with the New York mayor.

Barclays employs 58,000 people in the UK and is worth billions to the British economy - valued at £34 billion on the stockmarket.