New York stays top in finance as London loses ground, index shows

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New York kept the top spot in the latest Global Financial Centres Index (GFCI), with London clinging on to second place in the face of competition from Shanghai and other Asian centres.

The index, compiled by the Z/Yen Group, a London-based think tank, and the China Development Institute, looks at 143 yardsticks provided by outside parties such as the World Bank, The Economist Intelligence Unit, the OECD and United Nations.

The next five spots were filled by Asian financial centres, with two European centres making up the rear in the top 10.

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