Mark Turner Discusses London’s Financial Future

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, spoke to Financial Director about London’s future as a financial hub; a key theme that’s been explored in our recently released Global Regulatory Outlook report.

An extract from the article is below:

"In a year dominated by Brexit, trade wars and global financial volatility, Duff & Phelps’ latest Global Regulatory Outlook (GRO) report found that London is no longer perceived as the world’s preeminent financial center. New York has taken back the title according to our report, which surveyed over 180 senior professionals in financial institutions around the world. Our analysis focused on the factors driving this change in perception amongst senior industry leaders, and how this dynamic could evolve in the coming years."

Comparing this year’s responses to last, we see the effects of both short-term and long-term global trends. In 2018, while Brexit cast a shadow of uncertainty over the UK’s economy, London was still perceived as the world’s No. 1 financial capital. This year, New York and London have switched places, as the share of those choosing London dropped from 53% in 2018 to 36% in 2019. New York is now seen as the world’s top financial center by 52% of respondents; a 10% increase from 2018.

Since the EU referendum, the UK has at times been portrayed as an inward-looking nation. With Brexit undoubtedly influencing the future of the UK’s financial services sector, London has remained distracted by domestic political affairs and has not yet managed to successfully communicate to the world that it’s still open for business.”

Read the full article here.

 
2019-06-19T00:00:00.0000000 0001-01-01T00:00:00.0000000 /about-us/news/mark-turner-london-financial-future /-/media/assets/images/news/featured-images/2019/mark-turner-london-financial-future.ashx news {DA6CC51B-740E-439A-B283-2BBFB5326BAA} {DE05ECA4-1852-4BEF-A4E1-491CB497F9CB} {4FD55120-2DD8-4DB5-8DAA-3D9212C2436D} {1C3CB363-1B9A-40E2-AF19-5C433260F861}

Related Services

Duff & Phelps Compliance and Regulatory Consulting

By Jurisdiction

Regionally targeted assistance for asset managers in compliance program development, implementation and maintenance

By Jurisdiction
Duff & Phelps Compliance and Regulatory Consulting

UK Regulation

Comprehensive compliance and regulatory support for FCA authorized firms.

UK Regulation
Duff & Phelps Compliance and Regulatory Consulting

EU Regulation

Comprehensive compliance and regulatory support for EU firms.

EU Regulation

News