EDINBURGH climbed from 35th to 29th place in the latest Global Financial Centres Index league table, published yesterday, but Glasgow dropped from 63rd to 70th.
The twice-yearly index is produced by London-based think-tank Z/Yen in conjunction with the China Development Institute. London remained second, behind New York, in the latest rankings, with the gap between these cities’ rating scores widening.
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Edinburgh’s rating score rose from 674 in the previous GFCI report in March to 701. Although Glasgow fell in the rankings, its ratings score was unchanged from the previous report at 613.
The latest report incorporates 32,227 financial centre assessments from 3,360 financial services professionals.
The survey sought views on the effect Brexit would have on financial centres. Its findings reveal a belief that London and Edinburgh will experience the greatest negative impact, with New York and Frankfurt expected to benefit.
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The report states: “The two leading UK financial centres– London and Edinburgh – are the two centres respondents believe will suffer the largest negative effects, although these effects are seen to improve a little in the longer term.
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"Respondents consider that New York, Hong Kong, and Singapore will benefit substantially from Brexit. In Europe, Frankfurt is considered likely to benefit most, followed by Paris, Luxembourg, Zurich and Dublin.”
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