Daniele Bianchi, Assistant Professor Of Finance, Warwick Business School, Comments On London Remaining First In The The Z/Yen Global Financial Centres Index

Commenting on London remaining first in the the Z/Yen global financial centres index, Daniele Bianchi, Assistant Professor of Finance, Warwick Business School said: "London's top spot is due to a combination of factors which won’t likely be affected in the wake of Brexit, such as the presence of one of the most trusted legal systems in upholding the rule of law, including the protection of creditor and shareholder rights; the superiority of the UK’s university education in economics and finance over its continental counterparts; and the UK’s tax and employment regulation system whereby financial services benefit from lower corporate tax rates and more flexible employment laws than, for instance, Germany and France.

"But the role of London as the world's top financial centre cannot be taken for granted and is not guaranteed in the wake of Brexit.

"The longer the ambiguity over post-Brexit arrangements carries on and especially if the prospect of a hard Brexit is realised, the higher the likelihood London’s competitors will finally close the gap."