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business
Wednesday Sep 12 2018
By
REUTERS

New York overtakes London as world's top financial centre: survey

By
REUTERS
NYC skyline. Photo: Reuters

New York has overtaken London as the world´s most attractive financial centre, a survey said on Wednesday, as Britain´s decision to leave the European Union prompts banks to shift jobs out of the city to preserve access to Europe´s single market.

Since Britain voted to leave the EU more than two years ago, some of the world’s most powerful finance companies in London have been searching for a way to preserve the existing cross-border flow of trading after it leaves the bloc in 2019.

New York took first place, followed by London, Hong Kong and Singapore in the Z/Yen global financial centres index, which ranks 100 financial centres on factors such as infrastructure and access to high quality staff.

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