Daniel Mouawad, chief executive of pro.manchester, which represents the city's financial and professional services firms, said the region should follow the example set in the capital, where Boris Johnson has ousted Ken Livingstone.
Mr Mouawad said a directly-elected mayor would mean better governance.
He added: "The model works for London and, regardless of the merit of the decisions, it has attracted the 2012 Olympics, introduced the congestion charge, given Crossrail the green light and driven through the introduction of smart ticketing through the Oyster card.
"London works because its mayor leads and co-ordinates the integration of strategic issues across a number of substantial policy areas, such as the economy, environment, spatial planning and transport. This is exactly what Manchester needs.
"A mayor could provide the impetus to ensure Manchester develops its credentials as an international city, and realises its significant economic growth potential."
He added: "Manchester is the country's largest economic engine outside London and the south east and should be in charge of its future economic destiny.
"At present, strategic issues which straddle respective boundaries must be solved by local authorities collaborating, but there is still a desire by many to have something more decisive and significant to control this growing economic powerhouse." Tweet