On Friday just before 3:30 am EST, Buckingham Palace confirmed her majesty Elizabeth II had died at her Balmoral estate, aged 96.
Reacting to the news, stock exchanges around the world observed a minute of silence, including the Australia Stock Exchange which stood still for a minute at 11am on Friday.
The London Stock Exchange traded as normal on Friday, but confirmed it would likely close for trading on the day of the funeral.
“The day of the funeral of Her Majesty the Queen is expected to be a public holiday and, in this scenario, the London Stock Exchange would be closed for trading,” a spokesperson said.
Responding to the news of the Queen’s passing, chief executive officer at Fidelity International, Anne Richards, said: “On behalf of Fidelity International, I would like to offer our deepest condolences to the Royal Family.”
“Her Majesty, Queen Elizabeth II, spent a lifetime dedicating her remarkable life to the service of others,” Ms Richards said.
“On a personal level, it’s a time for reflection on a life well spent,” she added.
Ronald O’Hanly, chairman and chief executive officer at State Street, posted a lengthy note to his personal LinkedIn page.
“Like millions of others around the world, I am a long-time admirer of Queen Elizabeth II, and am deeply saddened by her passing,” Mr O’Hanly said.
“To our friends in the UK and around the world, we join you in mourning, and in celebration of Queen Elizabeth II’s life, work, and deeds. In this time of reflection, the example of her life and the dignity of her death offers a profound message for us all,” he continued.
Macquarie Group chief executive Shemara Wikramanayake said: “Queen Elizabeth II embodied a principled devotion to public service. She has been an incredible role model and inspiration to millions of people.”
“We send our condolences to the Royal Family and everyone around the world who mourn the passing of a unique person.”
Similarly, Schroders group chief executive, Peter Harrison, penned a statement.
“It is with great sadness that we join the nation and Commonwealth in mourning the passing of HM Queen Elizabeth II,” Mr Harrison said.
“As the longest-serving Monarch in British history for 70 years, she led the Commonwealth and her family with grace, poise and conviction. We have nothing but the utmost admiration for her leadership and charitable work.”
There has also been an outpouring of sympathy from global leaders including from Australian Prime Minister, Anthony Albanese, who suspended parliament on Friday morning for a period of two weeks.
The Prime Minister is now expected to travel to London alongside the Governor-General to meet King Charles III.
“With the passing of Queen Elizabeth II, a historic reign and a long life devoted to duty, family, faith and service has come to an end,” Mr Albanese said.
“There is comfort to be found in Her Majesty’s own words: Grief is the price we pay for love.”
