Counselling service founder says record numbers of workers in City of London seeking treatment for drug and alcohol problems

Drug and alcohol problems are rising at an alarming rate in London’s financial district, according to the founder of what claims to be the only specialist addiction counselling service based in the Square Mile.

Richard Kingdon, 42, says the climate of markets going into meltdown and banks implementing mass job cuts has prompted record numbers of City workers to seek treatment for addiction. He says his service, City Beacon, has worked with nearly 100 clients over the past two years.

“I’m seeing increasing numbers of people who’ve been taking a variety of substances to deal with the stress of their lives.”

One of Kingdon’s recovering clients is Daniel (not his real name), now in his mid-40s, who started drinking heavily at 25. He moved on to cocaine and found it impossible to stop his habit of “shoving my six figure bonuses up my nose”, although he has not had a drink or taken drugs for two years.