London slipped from the top of the global rankings, scoring 784
against 786 for New York, because a series of own goals had
tarnished its reputation, the report said.
"London sees the largest fall in the top 50 centres," said Mark
Yeandle, report author and associate director of Z/Yen, in a
statement on the group's website.
"This seems to be based on a number of factors including ...
uncertainty over Europe, the perception that London might be
becoming less welcoming to foreigners and perceived levels of market
Hong Kong and Singapore took third and fourth spots respectively,
the same as a year ago, the survey showed.
But the gap between the "Big Four" and the chasing pack, led by
Zurich, Tokyo and Seoul, was narrowing, it said.
Middle East centres, such as Qatar, Dubai and Riyadh, which took
places 26, 29 and 31 respectively, continued to rise in the index,
while 23 of the 27 European centres declined in rank.
TheCityUK, a lobby group for British financial and professional
services, said London slipping from the top spot should be a wake-up
call for Europe's policymakers.
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"London is Europe's financial center and is hugely important to the
continent's ability to finance growth and create jobs by attracting
global investors," said Chris Cummings, chief executive of TheCityUK.
The Global Financial Centres Index is compiled from assessments
completed by 3,246 financial services professionals, Z/Yen said.
(Reporting by Paul Sandle; editing by
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