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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