New York easily remains the world’s top financial center, cementing its position for the past six years after it overtook London, in second place ever since, with Singapore ranked third, the Global Financial Centres Index 35 published by Z/Yen Group showed.

Hong Kong remains in fourth place, followed by San Francisco nipping at its heels, helped by its strong role in financing tech.

New York overtook London in 2018, after the United Kingdom voted to leave the European Union two years earlier, which raised questions about London’s ability to remain globally competitive.

Seoul joined the GFCI’s top 10 for the first time. The GFCI evaluates cities based on five broad areas: business environment, human capital, infrastructure, financial sector development and reputation. (Reuters)