London May Still Dominate European Finance, Report Shows
- U.K. leads on derivatives, forex in Europe, new report says
- Still too early to capture full impact of split from the EU
This article is for subscribers only.
Paris and Frankfurt have their work cut out if they’re going to seriously challenge the City of London, according to an analysis by think tank New Financial, which found five times more international financial activity in the U.K. than France or Germany.
“This report shows you would have to move a huge amount of activity from the U.K. before France, Germany or any other EU financial center is significantly closing that gap,” William Wright, New Financial’s managing director, said in an email. Wright said that even if 10% of all international activity in the U.K. were to relocate, the country “would still be a long way ahead.”