New York quickly became the world’s most attractive financial center, a survey said on Wednesday, as Great Britain decided to leave the European Union.
New York has now the 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 quality staff.
“We are getting closer and closer to exit day and we still don’t know whether London will be able to trade with all the other European financial centers,” says Mark Yeandle, the co-creator of the index.
“The fear of losing business to other centers is driving the slight decline and people are concerned about London’s competitiveness.”
Since Britain voted to leave the EU, many of the world’s most powerful finance companies in London have begun moving staff to the EU. Around 5,000 roles are expected to be shifted or created in the EU from London by March next year. The head of the City of London financial district predicted that 3,500 to 12,000 financial jobs would go because of Brexit.
