New York easily retains its place as a global top financial center, and London holds second place in a sharp battle with Singapore and Hong Kong, according to the Global Financial Centers Index, released on Monday.
New York, which topped London in September 2018, topped the list with 763 points based on 147 factors compiled by 121 institutions, including the World Bank, the United Nations and the OECD.
London is slightly narrowing its gap and receiving 744 points, which brings some relief after forecasts that due to Brexit the British capital will lose its position as a global financial center and the fact that many companies have left it in recent years. Singapore with its 742 points, however, is already "breathing down the neck" of London, and Hong Kong is only a point behind it, which portends a fierce battle for second place.
Wall Street found with growth
The index is made every six months by the London-based think tank Z/Yen and the China Development Institute.
The survey shows that U.S. financial centers are performing well and five of them are in the global top 10.
New York City