According to the financial centres index, London has held on to its top financial centre rating, despite a fall in its appeal.
The think-tank and consulting firm, Z/Yen, produces the global financial centres index (GFCI), which surveys 2,700 professionals on the merits of different financial centres around the world. In the survey results just released, London, New York, Hong Kong and Singapore remain the top four centres with a gap of 43 points between London in ﬁrst and Singapore in fourth place.
Although the City of London has held onto the number one spot, its ratings fell more dramatically than any other centre in the top 25. Factors such as poor UK economic performance and the Libor scandal have affected London’s rating.
Frankfurt, Zurich and Geneva remain in the GFCI top ten and Luxembourg has climbed ﬁve places to 13th. Most of the remaining ﬁnancial centres in Europe are still suffering from uncertainty in the Eurozone. Paris is down by 14 points, Munich by 16, Amsterdam by 26, Milan by 34, Madrid by 28 and Brussels by 44 points. Lisbon and Athens also fell and Athens remains at the bottom of the index.
Read more about in the survey results in the Financial Times, or find out more about the global financial services industry.