Past President of Ward of Cheap Club
Mark Magnacca served as President of the Ward of Cheap Club in 2024. During his year, he sought to share his passion for the City, build on the wonderful traditions of the Club and give back what he could in terms of his experience and enthusiasm to make the Ward Club a little more attractive to new members, a little more relevant, and a little more modern.
Mark is the Co-Chair of the Canadian Indigenous Investment Summit and Founder & CEO of gigCMO, an international business growth consultancy based in the City. He is active in civic life.
The City of London
Mark was asked about his involvement with the City of London – how it began, how it evolved, and what the City means to him.
“I remember first walking into the Square Mile years ago when I was backpacking from my home in Canada. I crossed into the City, and it was clear I was in a very special and well-looked-after area of London. Well-maintained streets and sidewalks, beautiful and somewhat hidden gardens and a wonderful blend of modern and historic buildings. I said to myself that one day, I would have my company here. Through perseverance and good fortune, I established my company in the City in 2016.”
“When I returned to London permanently and was working near Lloyds’, I discovered a place of rest and solitude in one of the City churches. It was there that my eyes were opened to the very special civic side of the City. Shortly thereafter, I joined the livery and was encouraged to join a ward club and ended up working on a number of aldermanic election campaigns. Of course, my involvement in the livery let me enter some magnificent livery halls.”
“The City is a very ancient place but has successfully re-invented itself time and time again. Commerce has always been at the heart of the City and, of course, the UK. It remains one of the great professional and financial centres of the world. This unique mix of ancient traditions, civic and business and modern capitalism in a City that is in the UK but of the world, makes every day hold the possibility of untold opportunities.”
Success in the City
When it comes to thriving in the City, Mark believes that while the world around us is constantly evolving, some fundamentals remain the same.
“I think it still comes down to hard work, perseverance and good fortune. Of course, technology has changed, but it has always changed the human experience. I’m sure everybody was very happy when the wheel was invented, and it’s like some of our technology today. Of course, the speed of change is completely different and continues to accelerate. And that is why the City, with its well-known convening power, maintains its attraction for individuals and businesses across the world.”
“Fundamentally, success in the City has always required vision, adaptability, and a commitment to excellence. While digital transformation and new business models have reshaped the landscape, the principles of trust, relationships, and strategic foresight remain just as crucial today as they were centuries ago.”
Reflecting on the global changes in recent years, Mark shares a candid perspective on politics, leadership, and the City’s future role on the world stage.
“Obviously, we’re living through a tectonic shift with Trump in office in the US, and he has broken the world that many of us grew up in for the worse.”
“I truly hope that the UK and the City will rediscover its role in Europe as a leader and as a contributor to one of the greatest civilisations the world has known. The EU is evolving, and the UK must re-engage and be at the centre of a single market in professional services.”
Few places capture the City’s rich history and daily activity quite like the Ward of Cheap. For Mark, its significance is both symbolic and practical.
“The Ward of Cheap is in the heart of the City. It is a place of ancient history – where Saxons, Vikings and Romans traded on Cheapside. In its boundaries are some of the great livery companies, beautiful chapels and churches, some great modern-day companies and Guildhall.”
The Benefits of Joining the Ward of Cheap Club
For Mark, the Ward of Cheap Club isn’t just about tradition – it’s about connection.
“Wherever you go in the City, you nearly always must pass through the Ward of Cheap.”
“I think the role of the Club is to provide fellowship and friendship.”
“The Club is interested in those who have some association with the City, and of course, they will have a genuine interest in the history and tradition. It is a place to contribute to the nurturing and care of some of the quirky English traditions so future generations may enjoy them as well.”
“I think in this age when we can talk to somebody on FaceTime halfway around the world, or with someone on a space station, the opportunity provided by the Club for physical gatherings to build a sense of community is very important. It makes the City not just a place of hustle and bustle but feel a little more like a place of camaraderie.”
“I have had the opportunity to meet many of the members from different walks of life and through our events, to experience some very special places. It has been an honour to serve as President of the Ward of Cheap Club.”
If you want to be more involved with the City’s business community and help contribute to its ongoing success and improvement, consider joining the Ward of Cheap Club and explore the website for more information.