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Brexit and London

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There have been any number of stories surrounding the effect of Brexit on the City of London. Some jobs will move but there is a sense that sections of the media are straining to find negative news to latch onto whereas others are overplaying the positives.

The Sun might not been seen as the best source of unbiased information but within this story there is a very relevant point which may surprise some.

The league table ranking financial centres has London as number one in the world. In second place is New York, closely followed by Singapore and then Hong Kong.

This is where London’s future competition is, not in Europe.

In fact, the next highest-ranked centres in Europe are Zurich at 11th and Geneva at 20th. Remember, Switzerland is not in the EU.

Zurich and Geneva, which rather makes a mockery of the claims that Brexit will decimate the city and it does also raise the question of the status of  Frankfurt and Paris

The cities that hope to grab some of London’s jobs are low down the list: Frankfurt is 23rd, Paris 29th, Dublin 33rd and Amsterdam 40th.

Certainly surprising that much touted Frankfurt ranks so far down the list. Being almost a fringe centre will certainly not increase its appeal to institutions hoping to attract top talent.

Also it is in my experience, not the most exciting city.

 

 

 

 

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