Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

New York holds top spot, London second in Z/Yen financial centre survey

by Uma
0 comment

LONDON (Reuters) – New York kept the top spot in the latest rankings of global financial centres from Z/Yen Group on Thursday, with London and Singapore also unchanged in second and third place.

New York overtook London to head the table in September 2018 — two years after Britain voted to leave the European Union — but London has retained its second place ranking since then, despite some predicting it could take a heavy knock from Brexit.

“New York retains a significant first position, and five other U.S. centres are in the top 10,” Z/Yen chairman Michael Mainelli said in a statement.

Finance industry officials worried about London’s global reputation as a financial centre after the Bank of England had to step in last September to buy government bonds to stop a rout in prices.

Markets had been unnerved by a government announcement of unfunded tax cuts.

“London has maintained its position, showing its strengths in finance, despite Brexit and other politically induced uncertainties,” Mainelli said.

The twice-yearly survey rates 120 financial centres combining 61,449 assessments from 10,252 financial professionals with quantitative data.

New York retains its leading position in the Fintech ranking, followed by San Francisco, with London moving up one place to third, while Shenzhen rose three places to fourth, Z/Yen said.


(Reporting by Huw Jones; Editing by Alison Williams)