The 16 strong board will tap into London's business expertise and is the first of its kind to be chaired by the mayor.
Membership comprises business leaders and entrepreneurs who want to contribute their ideas and experience to helping to boost London in the wake of the Brexit.
The mayor hailed the 'high-quality' line-up which he said would help the capital 'seize new opportunities'.
The board includes Nicola Mendelsohn, vice president of Facebook, Inga Beale, chief executive of Lloyds of London, Nikhil Rathi, chief executive officer of the London Stock Exchange and Debbie Wosskow - founder and CEO of Love Home Swap.
Khan is determined to challenge the underrepresentation of women in senior roles and, in line with his commitment to gender equality, 10 of the 16 board members are female. Five members are from a black, Asian and minority ethnic (BAME) background.
Announcing the Business Advisory Board at the Bloomberg’s UK Investment Summit today, Khan will say: “I promised to be the most pro-business Mayor London has ever seen – and now I’m delivering on that promise.
“Having helped to run and grow a business, I know at first hand the challenges that our business community faces. However, London is home to an unrivalled pool of business talent, and of business leaders who want to use their knowledge and experience to the benefit of our city.
"My high-quality Business Advisory Board will bring great insight, innovation and creativity to bear on developing ideas that increase our competitiveness and prosperity, and spread the opportunity that brings to all Londoners.
“London business is still coming to terms with the recent vote to leave the European Union and I am looking forward to working with the Business Advisory Board to strengthen London’s shield against the expected blows from Brexit and to seize the opportunities to show how London is open to jobs, growth and investment.”
Nikhil Rathi, CEO, London Stock Exchange plc, added: "Being at the heart of London's financial community, London Stock Exchange Group is committed to supporting access to funding for British and international entrepreneurs and businesses.
“I look forward to being part of the Mayor's Business Advisory Board, as it champions London’s vibrant business and entrepreneurial community, supporting London’s status as a world leading global financial centre and a dynamic place to do business.”
The board will advise the mayor on the how policy can deliver positive outcomes for London’s businesses, growth and job creation, and on how policy proposals from the mayor’s office or elsewhere might affect these.
It will meet at least four times a year and will also provide insight on the impact of economic conditions, and policy decisions taken elsewhere, on business in London.
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