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New York extends lead over Brexit-hit London in finance: center poll


Added 09-19-19 07:03:02am EST - “New York has extended its lead as the world's top financial center, with Lo...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “New York extends lead over Brexit-hit London in finance: center poll”. Below is an excerpt from the article.

LONDON (Reuters) - New York has extended its lead as the world’s top financial center, with London barely holding on to second place ahead of Hong Kong as uncertainty over Brexit takes its toll on the UK capital, a Z/Yen Group survey for 2019 showed on Thursday.

New York extended its lead over London to 17 points, while a strong performances from other centers, in particular Paris, put London’s second place in the index at risk, compilers of the Global Financial Centers Index (GFCI) said in a statement.

Hong Kong is now just two points behind London where a key issue for finance professional is whether Britain’s departure from the European Union on Oct. 31 will impede the free movement of talent, it added.

The GFCI index rated 114 financial centers, combining assessments from finance sector professionals with data.

“Respondents consider that New York, Hong Kong, and Singapore will benefit substantially from Brexit. In Europe, Frankfurt is considered likely to benefit most, followed by Paris, Luxembourg, Zurich, and Dublin.”

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