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- New York widens lead over London as finance hub - Duff & Phelps
New York widens lead over London as finance hub - Duff & Phelps
Reuters reports that consultants Duff & Phelps said in a global regulatory outlook that a growing majority of top bankers and asset managers consider New York as the world's top financial hub and expect Brexit to damage London's global standing.
D&P's outlook surveyed senior financial professionals from 250 banks and asset managers in Europe, Asia and America, with 60% saying they view New York as the world's leading financial centre, up from 56% in 2020.
The survey said only 31% of respondents saw London as the top hub, down from 34% last year, with just over 50% saying that leaving the European Union will weaken London's position as a global financial centre.
Amsterdam has pushed ahead of London to become Europe's biggest share trading centre, grabbing some of London's derivatives trading activity along the way.
Nearly a fifth of respondents to the D&P survey now predict that China will become the top financial centre within five years.
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