Singapore, Shanghai and Tokyo are close behind.
Watch Live. London loses top spot in global financial centre rankings. Fill 2 Copy 11 Created with Sketch. Wednesday 12 September , UK.
Why you can trust Sky News. It was also ranked seventh for centers likely to be more significant in the next two to three years.
London was in second place after New York, although the two often exchange first place. London is home to the Bank of England BoE , one of the most prestigious and oldest central banks in the world.
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In the GFCI financial competitiveness categories , London ranked first for business environment, second in the competitive areas of human capital, financial sector development and reputation, and it ranked third for infrastructure. Brexit is having a substantial impact on the business environment globally, and particularly on the United Kingdom's position as a financial center.
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London's could lose much of its financial institutional density depending on the outcome of Brexit. Many firms are choosing to relocate due to future uncertainty. The city ranked second for business environment and infrastructure and third for human capital.
The 20 most powerful financial centres in the world
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