Financial Connections

London remains the world’s top financial centre in spite of the challenges posed by Brexit, according to new research by Y/Zen. Not only that, but it has extended its lead over second-placed New York amid US trade concerns. The survey also scored London top in every subcategory, including business environment, human capital, infrastructure, development and reputation.  Nevertheless, top centres ‘likely to be more significant’ in the next few years included both Dublin and Frankfurt – hinting at gains at London’s expense. Standing in London’s favour, the report identifies its strong systemic connectedness with other global financial centres. In real estate, connections are traditionally built on physical proximity and strong communications. However, as the world becomes digital, physical connectivity diminishes in importance. Knowledge and service transfer can happen instantaneously across borders, so the way in which centres are linked therefore becomes less about distance and more about cultural, human and habitual networks.