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View Poll Results: Financial Capital of the World?
London 80 36.20%
New York 141 63.80%
Voters: 221. You may not vote on this poll

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Old 11-08-2013, 05:10 PM
 
Location: Chicago
248 posts, read 303,916 times
Reputation: 98

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Quote:
Originally Posted by JamieJack12 View Post
It used to be NY. Now it's London by far. A much more international financial centre. Besides, it's booming like you've never seen before.
NYC is also booming...NYC is powerful city in a powerful country. London is actually more powerful but NYC is more wealthy, London's location really gives it an advantage over NYC.
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Old 01-07-2014, 07:48 AM
 
Location: Rome, Italy
92 posts, read 77,806 times
Reputation: 16
As much as Americans would like it to be NY, the global reference of finance is London these days and has been London for several years now.
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Old 01-07-2014, 08:27 AM
 
Location: Great Britain
2,739 posts, read 2,486,103 times
Reputation: 1425
I know Londons' mayor Boris keep banging on about London having more American banks than NY, more museums than Paris, and less rainfall than Rome. But that's just Boris.

London is very much the centre of foreign exchange, the global insurance industry and numerous other markets, in terms of the London Stockmarkets they are mainly electronic now with transactions carried out by traders behind computer screens rather than on trading floors. Indeed London was one of the first countries to do this and it was known as the big bang back in the 1980's.

Finally in terms of GDP, London has one of the fastest growing GDP's of any city and it set to see substantial GDP growth between now and 2030.
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Old 01-21-2014, 08:22 PM
 
136 posts, read 174,534 times
Reputation: 198
Private Equity Firms raise $ and then buy controlling interests in private companies (think Bain Capital and Mitt Romney). Here's a list of the 50 largest Private Equity Firms in the world.

NYC -----$245.02 billion
London-- $41.57 billion
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Old 01-22-2014, 05:27 AM
 
Location: Boracay
41 posts, read 196,693 times
Reputation: 42
Although my favorite city is NYC, for this its gotta be London...
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Old 01-22-2014, 06:01 AM
 
Location: Great Britain
2,739 posts, read 2,486,103 times
Reputation: 1425
Some facts about the City or Square Mile, one of London's two major financial centres the other being Canary Wharf, whilst we are building a third financial centre at the Royal Docks in order to encourage more Chinese and Asian financial services to locate to London, whilst many Hedge Funds and other financial instutions also operate from Mayfair and the West End of London.

Key facts

List of London Private Equity Firms | AskIvy

List of London Hedge Funds | AskIvy

List of companies based in London - Wikipedia, the free encyclopedia

Last edited by Bamford; 01-22-2014 at 06:33 AM..
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Old 01-22-2014, 07:36 PM
 
136 posts, read 174,534 times
Reputation: 198
Quote:
Originally Posted by Bamford View Post
Some facts about the City or Square Mile, one of London's two major financial centres the other being Canary Wharf, whilst we are building a third financial centre at the Royal Docks in order to encourage more Chinese and Asian financial services to locate to London, whilst many Hedge Funds and other financial instutions also operate from Mayfair and the West End of London.

List of London Private Equity Firms | AskIvy

List of London Hedge Funds | AskIvy


50 largest Private Equity Firms in the world.
NYC -----$245.02 billion
London-- $41.57 billion


20 largest Hedge Fund Firms in the world.
NYC -----$380 billion
London-- $153 billion

Combined Hedge Fund and Private Equity-
NYC-----$625 billion
London--$196 billion
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Old 01-23-2014, 04:50 AM
 
Location: Great Britain
2,739 posts, read 2,486,103 times
Reputation: 1425
Quote:
Originally Posted by kevike View Post
50 largest Private Equity Firms in the world.
NYC -----$245.02 billion
London-- $41.57 billion


20 largest Hedge Fund Firms in the world.
NYC -----$380 billion
London-- $153 billion

Combined Hedge Fund and Private Equity-
NYC-----$625 billion
London--$196 billion
If you bothered to look a lot at my link of those hedge funds have offices in London. London is also home to a whole host of foreign banks and financial institutions, and equity and hedge funds are international and global. Furthermore Hedge Funds, of which some operate from London's prestigous West End and not the City (Square Mile) and Equity Funds do not make a financial centre by themselves. The Swiss have plenty of Hedge Funds and Private Equity opering in their country, as do many tax havens.

List of London Private Equity Firms | AskIvy

List of London Hedge Funds | AskIvy

Quote:
Originally Posted by Forbes
about two-thirds of assets owned by the world’s hedge funds were located offshore, according to International Financial Services, a London-based research organization. Jersey wants to attract more so it can catch up with rival Cayman, the market leader by about five to one, with more than half of the world’s hedge funds housed there.

The funds aren't required to keep administrative teams on these tax havens. That suits most operations, which typically keep their decision-makers in London or New York.

Welcome To Hedge Fund Island - Forbes

Offshore financial centre - Wikipedia, the free encyclopedia
In terms of Hedge Funds and Private Equity they often use flags of convenience to avoid tax and indeed some laws, and I am quite sure there are more Private Equity and Hedge Funds in places such as the Caymen Islands and numerous other smal islands and principalities than there are in London and more private equiry and hedge fund money there than in London. This does not however effect London's standing as a major centre for the Financial Services Industry and global centre for financial trading.

Last edited by Bamford; 01-23-2014 at 05:37 AM..
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Old 01-23-2014, 04:53 AM
 
Location: Great Britain
2,739 posts, read 2,486,103 times
Reputation: 1425
.the Square Mile

Key facts

  • $1.9tr foreign exchange turnover each day in London. 37% global
    share, including foreign exchange derivatives (Source: Bank for
    International Settlements)
  • 160m metal contracts traded during 2012, up from 147m during 201 1 (London Metal Exchange)
  • 5.1 trn of funds under management in the UK (TheCityUK). The UK is the second largest fund management centre, managing 8% of global funds, and providing employment for some 60,000 people
  • 1.148bn contracts a year traded on UK based NYSE Liffe (TheCityUK)
  • 598 foreign companies listed on the London Stock Exchange, including the AIM market, 18% of the global total (TheCityUK)
  • 70% of global eurobond turnover traded in London (TheCityUK)
  • 187bn net premium insurance income in the UK (TheCityUK)
  • 47 .2bn trade surplus generated by the UK financial services sector (TheCityUK)
  • 46% share of 'over the counter' derivatives market (Bank for
    International Settlements)
  • 96% share of the EU emissions trading scheme (TheCityUK)
  • 251 foreign banks in London (TheCityUK)
  • 19% of cross-border lending arranged in the UK- more than any other country (TheCityUK)
  • 18% share of global hedge fund assets in the UK (TheCityUK)
  • Leading centre for Islamic finance, with 22 banks supplying Islamic
    financial services, five fully Sharia compliant (TheCityUK)
Over 2 million people work in Financial Services in the UK and they account for around 11% of our GDP.
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Old 01-23-2014, 06:42 PM
 
36 posts, read 32,759 times
Reputation: 16
NYC is the real financial center in the world, because NYC is also in the worlds most powerful country in the world!
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