London retains second place behind New York in list of world’s best financial hubs

London retains second place behind New York in list of world’s best financial hubs

New York has maintained its place at the top of the Global Financial Centres Index (GFCI), while London has held on to second place as Chinese cities slipped.

The index, published by the Z/Yen Group in partnership with think-tank China Development Institute, will be a relief to London in particular after it lost access to the European Union financial market when the UK left the bloc at the end of the Brexit transition period last December.

"The relatively strong performance of New York and London suggests that the financial services sectors in these cities managed to sustain their performance despite radical changes in working practices during the last 18 months," GFCI said.