UK still ahead of its EU rivals

The UK’s financial power is still outmuscling European rivals, despite Brexit fears. A study from think-tank New Financial, looking at levels of financial activity, found that the UK – led by the City of London – was outranking other centres, such as in France and Germany. The US remains the global number one.

William Wright, New Financial’s managing director, said: “While postBrexit relocations by banks and asset managers may dent the position, other financial centres in Europe have a huge amount of ground to catch up.”