Mon, Feb 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Survey finds Chinese and Eurozone centres languish whilst offshore centres recover

Tuesday, March 20, 2012
Opalesque Industry Update - The Z/Yen Group published the eleventh Global Financial Centres Index (GFCI 11) covering 77 financial centres. The big changes from GFCI 10 in September 2011 are:

The past trend of large rises in the ratings of Asia/Pacific centres has paused. Hong Kong, Singapore, Tokyo, Shanghai, Beijing, Taipei and Shenzhen all decline in GFCI 11. Centres on the mainland of China have seen significant declines with Shanghai down 37 points and Beijing down 11.

The capital cities of the weaker Euro economies continue to suffer. Dublin, Milan, Madrid, Lisbon and Athens were all down in GFCI 10 and this decline has continued in GFCI 11with these five centres all down in the rankings again.

In contrast to the centres in the weaker Eurozone economies, Frankfurt and Paris have both risen in the ranks. This may be as a result of the political lead that Germany and France have been showing in attempting to come to terms with the Eurozone crisis.

Offshore centres have suffered significant reputational damage recently. The main offshore centres are recovering lost ground. Jersey, Guernsey, the Cayman Islands, the British Virgin Islands, the Isle of Man, Gibraltar and Mauritius have all made modest gains in the ratings.

Mark Yeandle, Associate Director of the Z/Yen Group and one of the authors of the GFCI, said: “Frankfurt and Paris are the exception within the Eurozone. Whilst centres like Madrid, Lisbon and Athens continue to struggle, the German and French capitals have climbed in the GFCI. I believe that this is due to the leading roles of their governments in trying to resolve the Euro crisis.”

GFCI 11 uses 26,853 financial centre assessments completed by 1,778 financial services professionals. Since 2007, well over 100,000 assessments from over 6,000 respondents have built the index. GFCI is updated regularly and ratings change as assessments and instrumental factors change.

The top five global financial centres are: London, New York, Hong Kong, Singapore and Tokyo.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  2. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  3. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  4. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  5. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s