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New York overtakes London as world’s top financial center: Z/YEN survey

New York overtakes London as world's top financial center: Z/YEN survey© Reuters. The skyline of midtown Manhattan in New York City as seen from the United Nations headquarters in New York

LONDON (Reuters) – New York has overtaken London as the world’s most attractive financial center, a survey said on Wednesday, as Britain’s decision to leave the European Union prompts banks to shift jobs out of the city to preserve access to Europe’s single market.

Since Britain voted to leave the EU more than two years ago, some of the world’s most powerful finance companies in London have been searching for a way to preserve the existing cross-border flow of trading after it leaves the bloc in 2019.

New York took first place, followed by London, Hong Kong and Singapore in the Z/Yen global financial centers index, which ranks 100 financial centers on factors such as infrastructure and access to high quality staff.

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Source: Investing.com

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