2005 has ended on a great note, with the Wall Street Journal in the US and The Banker magazine in London recognising Australia's position as a global financial services centre.
On 6 December, Australia was noted as 'an emerging financial services centre' on page one of the Wall Street Journal. The article went on to say 'the pool of assets under management in Australia is among the largest in the world - a particularly impressive feat considering that Australia's population of 20 million is only slightly larger than that of Sri Lanka'.
In the December edition of The Banker, Sydney was named runner-up in the Financial Centre of the Future Award in the Asia Pacific. The Banker noted that Australia had the largest stock market capitalisation in the Asia-Pacific region, excluding Japan, and a financial sector that is constantly growing, with best practice approaches to regulation and a pro-business outlook.
Axiss will continue to bring its summary of key events in Australia's financial services industry and their implications for Australia's position as a global financial services centre when a2a resumes in January.
