New York remains at top of financial world

LONDON: New York remains the world’s most favoured financial centre, with London still second and Singapore overtaking Hong Kong to come in third, latest rankings from the Global Financial Centres Index (GFCI) showed yesterday.

Paris returned to the top 10 to replace Tokyo, but Moscow sank 22 places to 73rd as Western countries severed ties with the capital after Russia’s invasion of Ukraine in February, the GFCI said.

New York has held the top position among global financial centres for four years.

New York, San Francisco and Los Angeles topped the GFCI’s separate fintech sector ratings, with London fourth and Shanghai fifth.