Boris Johnson is backing an initiative which will see young people trained and offered their first job in the city.

The project, called Investment 2020, will offer more than 100 newly created 12 month paid trainee roles primarily to school leavers and recent graduates, regardless of background and education. The trainees will be given the opportunity to experience all areas of business and at the end of their training will be able to seek a role within the company they trained with or another city firm. The hope is that by 2020, the scheme will have offered at least 2,020 roles per year across the investment management industry and other financial service providers.