A TOP executive of the company behind the Brent Cross Cricklewood development has been elected to serve as the next Lord Mayor of the City of London.

Alderman Michael Bear, who lives in Finchley, will become the City's 683rd Lord Mayor when he takes up the position on November 12.

The married father of two is regarded as a leading figure in the property and construction industries and has a long history heading inner-city regeneration projects.

He is currently Regeneration Director at Hammerson plc, one of the partners leading on the controversial £4.5 billion regeneration of Brent Cross Cricklewood.

In his role, the Lord Mayor Elect will be head of the City of London Corporation and be global ambassador for the UK-based financial services industry.

Following his election today, he said the city faces a challenge during the financial crisis of how to remain ahead as a “global hub” while demonstrating its benefits within the country.

He said: “It is not enough for the City to bring billions into the UK exchequer, paying for schools, hospitals and roads.

“The City also has to find ways of sharing this success more directly with the public across London and the UK, so that more people feel that having a global financial centre based in the UK is good for us all.

“The City has to lead globally and demonstrate its benefits locally.’’ Lord Mayor Elect Bear was born Nairobi and is a trained civil engineer. Is is also Managing Director of Balfour Beatty Property and a non-executive director of Arup.

He will spend three months of his year in office year leading City business delegations overseas and also meet leading overseas politicians and business leaders visiting London’s financial community.

He said: “I believe my experience as a user of financial services at home and abroad, linking finance and trade, together with my practical experience in regeneration, infrastructure and engineering, will help me use the Mayoralty to get across the clear and tangible benefits to the UK of the City’s success.’’ His charity appeal will be ‘Bear Necessities – Building Better Lives’ on behalf of the children’s charity Coram, and RedR, a charity that trains and provides engineers and other relief workers to respond to worldwide emergencies.

The Lord Mayor Elect will take office at the Silent Ceremony, held in Great Hall, Guildhall, on November 12, the day before the Lord Mayor's Show.