- London has lost its sole lead as the world’s top financial centre, tying with New York for the top spot.
- Other financial centres have grown faster, putting London's competitive advantage at risk.
- Brexit and the prospect of higher valuations in the US are among the reasons for the shift.
- UK ministers have outlined potential services reforms and attempts to deregulate banking and insurance.
- The City of London Corporation is working on proposals to ensure UK financial and professional services remain competitive.
Financial Times — Companies — Financial Centres — Capital Markets — London Fights For Its Future — Uk Business & Economy
London loses sole lead as world’s top financial centre
London has lost its sole lead as the world’s top financial centre, tying with New York for the top spot. Brexit and higher valuations in the US threaten London's competitive advantage.