New York is top financial centre of world, says survey

The Global Financial Centres Index placed London second, although Brexit threatens to down-rank the city

The city of New York came in first place in a recent survey of top global financial centres, with London following in second.

The Global Financial Centres Index (GCFI) which is based on a survey by the Z/Yen Group made more than 54,500 assessments gathered from 8,549 professionals working in the sector.

The assessments study a range of city factors including political stability, regulatory environment, quality of life, infrastructure, availability of capital, market liquidity and cultural diversity.

Shanghai beat Tokyo taking third place, with Hong Kong and Singapore in fifth and sixth place respectively.

Despite London taking the second spot, some survey respondents said that the impact of Brexit could reduce the attractiveness of the city, in the short to medium term.

Uncertainty about trade, political stability and the economic impact of the virus pandemic has impacted the index results, Michael Mainelli, executive chairman of Z/Yen said.

Dubai was the only city from the UAE to make it in the top 20 coming in 17th place with Paris, Washington DC and Chicago following in 18th, 19th and 20th places. 

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