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This is a study done through an arm of the City of London Corporation's Global Financial Centres Index and conducted by Z/Yen.
It is a "ranking of the competitiveness of finanical centers." It takes into account over 15 evaluations from local economy and local buisness pratices, market access and access to capital to workforce, education, taxations rates and quality of life. (wikipedia.org)
But I figured I'd focus just on the North American cities that make the list.
I'll list them according to GFCI rank released this month:
New York #1
Chicago #6
Toronto #12
Boston #14
San Francisco #16
Washinton DC #17
Vancouver #23
Montreal #26
I found it interesting, and somewhat surprised, not shocking just surprised, pleasantly so. I do tend to agree with the list, given what I know about these cities. Please bare in mind it takes into accont far more than gross metro product. It uses many indices to more accurately evaluate city economies.
So it's up for discussion, you can agree, disagree, make a case for a better city in your opinion.
San Francisco has one of the big four NA banks (which recently got quite a bit bigger with the acquisition of Wachovia), Charles Schwaab, a host of smaller entities, and some of the largest private equity firms in the world. I'm not too sure about Boston being higher by a point. Also, well over Paris? Really?
I'm sure this all works out in their point systems, but it's a pretty curious thing to be ranking "competitiveness of financial centers."
San Francisco has one of the big four NA banks (which recently got quite a bit bigger with the acquisition of Wachovia), Charles Schwaab, a host of smaller entities, and some of the largest private equity firms in the world. I'm not too sure about Boston being higher by a point. Also, well over Paris? Really?
I'm sure this all works out in their point systems, but it's a pretty curious thing to be ranking "competitiveness of financial centers."
That's what surprised me, but I've been told and reassured that Boston is actually up there with London and New York in terms of venture capital and investment firms. Those two market ideas were bascially pioneered there in the 1970's through Fidelity, Inc and Mitt Romney's Bain Capital. I had no idea...
That's what surprised me, but I've been told and reassured that Boston is actually up there with London and New York in terms of venture capital and investment firms. Those two market ideas were bascially pioneered there in the 1970's through Fidelity, Inc and Mitt Romney's Bain Capital. I had no idea...
Bay area KILLS every other U.S. city in terms of venture capital.
From that list, according to the report, only New York, Chicago & Toronto are viewed as 3 of the 8 global leaders in the financial world (others include London, Singapore, Hong Kong, Zurich & Frankfurt).
Boston, DC & San Francisco also have a strong financial center, and IMHO..Boston & S.F seem more competitive than D.C. At the moment, I think SF is still ahead of DC & Boston because it's more globally connected.
Bay area KILLS every other U.S. city in terms of venture capital.
VC is just one branch of finance. Boston is a big player there (as is SF). Boston is also big in corporate banking and mutual funds. But as with most Bston/SF comparisons, this list shows them neck and neck, and there can't be too much difference between 14 and 16.
VC is just one branch of finance. Boston is a big player there (as is SF). Boston is also big in corporate banking and mutual funds. But as with most Bston/SF comparisons, this list shows them neck and neck, and there can't be too much difference between 14 and 16.
Exactly.
And one of many branches of finance.
Last edited by CL63; 03-19-2010 at 09:39 AM..
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