A survey said on Wednesday, New York has overtaken London as the world’s most attractive financial center. This as Britain’s decision to leave the European Union prompts banks to shift jobs out of the city to preserve access to Europe’s single market.
Reuters reports that Brexit poses the biggest challenge to the City of London’s finance industry since the 2007-2009 financial crisis. It might mean banks and insurers lose access to the EU, the world’s biggest trading bloc.