The Global Financial Centres Index–21
Held on Thursday, April 20, 2017.
Mark Yeandle (Z/Yen)
Bepi Pezzulli (Select Milano)
The latest Global Finance Centres Index is now out – after an eventful six months for global finance. As ever, the GFCI attempts to capture international sentiment towards the world’s financial capitals by triangulating an array of factors (business environment; development; infrastructure; human capital; and reputation).
Some of this edition’s findings seem straightforward. London and New York have lost ground in the uncertainties over Brexit and Trump, but remain comfortably neck-and-neck at the top. APAC’s big centres are gaining ground as the world economy shifts, with Singapore, Hong Kong and Tokyo (#3 to #5) all edging closer to the top two, and Sydney (#9), Shanghai (#13), Beijing (#16), L.A. (#19) and even Melbourne (#21) moving up the rankings. MENA is also making progress – except Dubai (#25), which slipped a little this year but remains the only global leader in its region.
But how significant is all this? And what should we make of the rest of it (such as volatility in Western Europe and some big jumps for Canada)? To explain how he put the survey together, and why the City should care (and worry), is Mark Yeandle, lead author and senior consultant at Z/Yen. He has been responsible for every six-monthly update since March 2007.
However, he won’t get things all his own way. I am also delighted that we will be joined by Bepi Pezzulli. Bepi is chairman of Select Milano, a body founded to promote the attractions of Milan as a financial capital. He is a former general counsel of Italiaonline and head of compliance for Southern Europe at Blackrock.
We hope to announce additional representatives from Dublin and Paris in the very near future.
If you (or a colleague) would like to join us for what I am sure will be a lively discussion, would you please let us know by emailing email@example.com or by calling 020 7621 1056. As usual, wine and sandwiches will be provided.