London voted top financial centre above New York for the first time in five years
London has been voted by finance professionals as the world’s top financial centre for the first time since 2013, according to a report released today.
More than half of the global senior professionals surveyed by advisory firm Duff & Phelps said London was the world’s pre-eminent financial hub, allowing the UK capital to steal its crown back from New York.
Last year, only 36 per cent of professionals rated London top – this has now jumped to 53 per cent.
Perversely, Brexit has provided the backdrop for showing the importance of London in the global capital markets,” said Duff & Phelps’ global head of regulatory consulting Monique Melis.
“London has a tried and tested legal system, very strong service providers and a very strong legal community that understands capital markets. People who operate in London understand how firms are liquidated, which is very important, and the merger and acquisition environment in London is much more benign and business-friendly than elsewhere in Europe.”