London is still ranked as the world’s number one global financial centre index despite Brexit looming and a number of key asset management firms exiting the UK’s capital.
Research undertaken by the Z/Yen Global Financial Centres Index (GFCI) found that London was still ranked at the top of global for competitiveness of financial centres.
Last week, as reported, Columbia Threadneedle was the latest big name asset manager to make changes to its product range and staffing levels based in London, as it prepares for the impending changes that an uncertain Brexit brings to European financial services.
The research (GFCI 23), based on a number of existing indices in combination with a regular survey of senior industry figures from around the world, is conducted twice a year. London remains top for now (see below) with New York second and Asian giants Hong Kong, Singapore and Tokyo in third, fourth and fifth places respectively.
Z/Yen is predicting a possible change once GFCI 24 will be published in September 2018 saying that it “should be fascinating as the continuing impact of Brexit and the outcome of a number of elections on our respondents’ perceptions will be known”.
The top twenty in the latest index (GFCI 23) are:
|Centre||GFCI 22||GFCI 21||Change in||Region|
|New York||2||793||2||756||0||▲37||North America|
|San Francisco||8||726||17||693||▲9||▲33||North America|
|Los Angeles||17||712||23||683||▲ 6||▲29||North America|
|Dubai||19||709||18||691||▼1||▲18||Middle East & Africa|
Full Details of GFCI 23 are available here.