While the Brexit debate is tossed around Europe, and the world gets used to the US's trade war parlance, The Banker’s annual ranking of international financial centres (IFCs) remains, once again, largely unchanged. As was the case in 2017, London leads by a narrow margin over New York.
This, of course, could change as the softening of Dodd-Frank rules may lead to higher profits for US banks – bank profitability being one of our key financial market data points. This could be particularly evident in investment banking, which has continued to prove a problematic business for some European counterparts.
