According to a new survey, London is narrowing the gap with New York for the title of the world’s top financial centre.
The Lord Mayor of the City of London has welcomed a survey suggesting the capital isn’t out of the race to be the globe’s top financial centre just yet.
The Z/Yen Global Financial Centres index, which ranks 121 centres, showed London remained in second place with a rating of 747 points behind New York, up three points from its previous report last September.
New York scored 764 points to retain the top spot, although its rating only ticked up by one point in the six months. The Big Apple has been in first place ever since it overtook London in September 2018.
The average rating of centres in the index rose 1.62 per cent from last September, suggesting continued confidence in the financial sector.
Lord Mayor of the City of London and Z/Yen chair Michael Mainelli said: “Confidence in leading international financial centres remains strong, and the top 10 centre rivalry continues. The leading financial centres improved or maintained their ranking in GFCI 35, with a high degree of stability in the rankings.
“The improvement in ratings in Latin America & The Caribbean and in the Middle East & Africa shows the continuing development of emerging economies in financial services.”..
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