| FCI Conference speakers Mainelli, Killick and Ryan throw light on the performance of London, Gibraltar and Qatar, all notables in the latest Global Financial Centres Index No 7 |
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Michael Mainelli, author of the Global Financial Centres Index, published by Z Yen and the City of London spoke at, and chaired the morning session of the Third Global Financial Services Centres Conference in Dublin on April 28th when he explained the background to London's sharing of the top position in the Index with New York for the first time.
Because of dissatisfaction with the trend in London's competitiveness, London also gives up ite pre-eminent position in the survey as leading financial centre to share the no 1 spot with New York, the index showed.
Outside of a number of Eurozone centres affected by poor exchequer finances, the Survey shows European centres advancing, although China, an earlier star in the survey, is seen as losing traction, with Shenzen, the mainland China zone adjacent to Hong Kong taking a sharp tumble. Among Asian centres, Mumbai does well - providing support to those who back India as a stronger Asian player in the financial centres game currently over China.
Offshore centres do relatively well. Biggest improver is Gibraltar (whose Head of Regulation, Marcus Killick spoke at the Third GFSC Conference on April 27-28th). In 'Asia', along with Mumbai, Riyadh does well, followed by Qatar, whose international offering is being revamped with the installation of a new regulatory regime there (whose Deputy Head of Regulation and Enforcement, Mike Ryan also spoke at the conference).
North American centres do relatively well, although New York's move to share joint first position is not because of an improvement it its attractiveness, but in a relative decline in London's. The Canadian centres continued their climb seen in recent editions of the Index.
The author of the Index, Michael Mainelli chaired the morning session of the GFSC Conference on April 28th, when Asia, London and the EU centres were analysed. The Z/Yen GFC Index is published here
The Conference Programme is published here.(Date: 12th March) |
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