According to the latest findings by a City think tank, London has lost its top position as the world’s leading financial centre, with New York in the lead now.
The latest Z/Yen Global Financial Centres Index show that New York is now in first place, followed by London, Hong Kong, and Singapore.
London’s ranking fell by eight points from six months ago. Analysts suggest that these findings are evidence that the economy needs a Brexit deal to be agreed ahead of the March 2019 deadline.
“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,” Mark Yeandle, the co-creator of the index, told media.