New York easily retained its title as the world’s top financial centre, with London remaining in second place and gaining some ground, but also facing a tougher battle with Singapore and Hong Kong for its place, according to with the Global Financial Centers index, released today.

THE New Yorkin first place since September 2018 when London was dethroned, remains at the top with a score of 763 in surveys of 147 factors, covering 121 cities and provided by third parties including the World Bank, OECD and the UN.

The London narrowed the gap slightly with New York, picking up 744 units, which is likely to bring relief there given post-Brexit competitiveness concerns, as high-profile companies such as UK chipmaker Arm Holdings, they decided to enter New York.

THE Singapore however it is now only two units behind London at 742 and only one unit ahead of it Hong Kongwhich occupies fourth place, which indicates that the battle for second place is intensifying.

The index is compiled every six months by London-based think tank Z/Yen and the China Development Institute.

“U.S. cities performed very well, with five U.S. cities in the top 10, reflecting the strength of the U.S. economy,” according to the survey, which added that New York City maintained its lead in separate rankings. financial technology (fintech), followed by London, which surpassed San Francisco.