London remains the business hub of the world with the highest number of millionaire CEO residents, new research reveals.

Nearly three per cent of top bosses who are worth more than six figures live in the British capital, putting it above New York, Singapore and Los Angeles.

The news will bolster the city's confidence ahead of a planned 'power grab' by other cities after Brexit, when authorities from Paris, Frankfurt and Dublin plan to offer companies new HQs.

London is the city with highest percentage of millionaire CEOs living in it, research reveals

The high number is thought to be made up of hedge fund and FTSE bosses from the City, as well as chiefs in new tech firms and small businesses

Researchers put the results down to the high number of global companies who have their headquarters in London compared to other cities.

The exact number millionaire chief executives in the capital is not known, but separate research has found that around 300,000 Londoners - around one in every 29 of its residents - are millionaires.

Oliver Williams, head of business intelligence firm WealthInsight, said: 'London topping the list of cities with the most millionaire CEOs is telling of the power wielded by London's boardrooms.'

He added: 'London has a very high density of boardrooms with a large number of foreign corporations calling London home.

'Companies operating as far afield as Africa or Latin America are attracted to London by market liquidity and an ease of doing business. These foreign companies add to the local demand for talented CEOs which has driven salaries ever higher.'

The highest number of millionaire CEOs work in the tech sector, while the wealthiest work for businesses that operate in a number of different sectors, such as Koch Industries billionaire Charles Koch and former Virgin boss Richard Branson, the research found.

François-Henri Pinault, CEO of French group Kering and husband of actress Salma Hayek, is one of the best-known London CEOs

Sir George Iacobescu, CEO of the Canary Wharf Group (left) and Virgin founder Sir Richard Branson (right), who was mentioned by the report's researchers

Britain as a country however lags behind the US for the overall number of rich business boss residents.

Nearly half of the world's millionaire CEOs live in the US, with the tech rich kids putting San Francisco behind London in second place, and Wall Street bosses placing New York third.

Paris will have to go some way to match London's wealth, with less than one per cent of the world's millionaire CEOs living in the French capital, the research by financial publications Compelo and Wealth Insight revealed.

Other well-known and well-paid London-based CEO include François-Henri Pinault, CEO of French group Kering and husband of actress Salma Hayek, and Sir George Iacobescu, chairman and CEO of Canary Wharf Group.

It was announced today that the UK economy is expected to have picked up from a slump at the beginning of the year, with the services sector surging to a four-month high in April.

The result delivers a hat-trick of good news for the UK economy after separate figures earlier this week showed manufacturing output reached a three-year high in April and the construction sector rebounded to record its fastest growth this year.