Efforts to protect the City of London after Brexit have been stepped up, with Philip Hammond and David Davis meeting key players in a bid to reassure them about the UK government's plans. 

The future of the UK financial services sector has been a key issue following the June 23 vote to leave the European Union amid concerns that Brexit could make it more difficult for firms to operate in continental markets. 

The British Chancellor and the Brexit Secretary met leading bankers and insurance chiefs to listen to their concerns about the potential impact of leaving the EU. 

In the talks at The Shard, the two Cabinet ministers were joined by City figures including Lloyd's of London CEO Inga Beale, London Stock Exchange Group boss Nikhil Rathi, Barclay's chairman John McFarlane, Santander chairwoman Baroness Vadera and HSBC's head of government affairs Sherard Cowper-Coles.

Other leading figures at the meeting included QBE's chairman Tim Ingram and Andy Briggs from the Association of British Insurers, along with representatives from Goldman Sachs, BlackRock and M&G Securities. 

Among the concerns of City institutions are the potential loss of so-called passporting rights, which allow institutions based in the UK to operate across the EU without having to seek separate authorisation in each country. 

Officials said the talks will feed into the Government's "ongoing analysis" on the options for Brexit.

"As the UK exits the EU, we are determined that our country remains a great place to invest and to do business," Mr Hammond and Mr Davis said in a joint statement. 

"We want the best deal for trade in UK goods and services, including our world-leading financial services industry. That is why these meetings, where we listen closely to the sector's views on the potential impact and opportunities offered by us leaving the EU, are so important", they added. 

"Our financial services sector makes a crucial contribution to our economy and we will work together to ensure it continues as the hub for both Europe and the rest of the world', the two UK ministers stated. 

Meanwhile, the British Supreme Court today began a landmark hearing on whether or not British Prime Minister Theresa May can trigger Article 50 without a vote in parliament.

Britain's High Court had ruled last month that she could not, saying only parliament has the authority to trigger Article 50.