Why is two’s complement used to represent negative numbers?

I’m just curious if there’s a reason why in order to represent -1 in binary, two’s complement is used: flipping the bits and adding 1?

-1 is represented by 11111111 (two’s complement) rather than (to me more intuitive) 10000001 which is binary 1 with first bit as negative flag.

Disclaimer: I don’t rely on binary arithmetic for my job!

Why is two’s complement used to represent negative numbers?