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June 11, 2008

London remains world’s most influential financial centre

by Gill Montia

Story link: London remains world’s most influential financial centre

Despite a battering from the credit crisis and the Northern Rock debacle, London has been named as the most influential financial centre in the world.

The capital received the award for the second consecutive year from MasterCard, which completes an annual survey to compile its Centres of Commerce Index.

New York took second place, followed by Tokyo and Singapore.

The index was first published in 2007 and examines the regulatory framework, number of leading financial institutions and volume of financial activity in worldwide locations.

The accolade also recognises ease of carrying out business and economic stability.

This year, progress has been made by the so-called “tiger economies” of Asia, with Shanghai moving up eight places, to 24th.

However, European cities remained dominant, occupying 40% of the top 25 places; Paris, Frankfurt and Amsterdam were listed in the top 10.

Meanwhile, Moscow remained outside the top 50.

 

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