London & NY Tied for First as Global Financial Centers

By Gene Marbach

Policy Chairman / City of London Corp. warns new regulation may "undermine UK’s competitiveness"

London and New York are tied for first place in the latest Global Financial Centers (GFC) report, published recently by the City of London Corporation. The data was collected between July and December 2009, a period of considerable volatility as the global economic recovery got underway. London (‐15 points in the ranking to 775 from 790) was one of four centers to see a decrease in its ratings (Shenzhen (‐25), Guernsey (‐6), and Dublin (‐1), despite an overall return of confidence. Meanwhile, New York (+1) held steady in the face of concerns over the regulatory environment...

Read more