New York edges London in finance centre ranking
It’s been a strange year for New York’s traders and brokers.
Many have had to work from home, or makeshift offices.
But it seems a turbulent year hasn’t dented Wall Street’s dominance.
A new ranking out Friday (September 25) shows it retaining top spot over London among financial centres.
The Global Financial Centres Index is based on over 54,000 assessments collected from more than 8,500 market professionals.
It looks at things like political stability, the availability of skilled staff, and quality of life.
Overall, London did actually close the gap on New York.
But worries over Brexit dented its score.
With the UK and EU still haggling over future relations, the City could lose its unfettered access to European markets.
Shanghai overtook Tokyo to grab third place.
Hong Kong and Singapore took fifth and sixth respectively.
The survey’s compilers said trade and health concerns had made the results unusually volatile.
Such worries actually benefited London and New York though.
Confidence in the global centres rose as worries mounted about second-tier cities.
