London World’s Top City for Financial Services

London remains the top city in the world for financial services despite a widespread scaremongering from remainers who claimed its prowess would be diminished post-Brexit. London leads this year’s Z/Yen global financial centres index, CityAM reports, and is the only European city in the top 15 of 110 listed. Frankfurt, widely tipped as a beneficiary of a ‘Brexodus’, fell nine places. The index draws on 103 data points provided by global organisations and a survey of 2300 financial professionals. They rated London as having the most competitive business environment, a better reputation than any of its rivals, and the best financial infrastructure.

A central argument made by remainers during the campaign and after was that Brexit would have a negative impact on the City. The Bank of England said 75,000 jobs in financial services would be lost. LSE Chief Xavier Rolet said 200,000 would go. Goldman CEO Lloyd Blankfein famously tweeted he would be “spending a lot more time” in Frankfurt (despite his firm expanding its London office). None of these predictions have come off – in fact, London has remained the world’s leading city for finance, streets ahead of any European rival. Experts, eh…

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Soros on the pan-European elections to the EU parliament…

“It is difficult to see how the pro-European parties can emerge victorious from the election in May unless they put Europe’s interests ahead of their own. One can still make a case for preserving the EU in order radically to reinvent it. But that would require a change of heart in the EU. The current leadership is reminiscent of the politburo when the Soviet Union collapsed – continuing to issue ukazes as if they were still relevant.”


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