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Country reportsOctober 1 2012

Established centres keep hold of asset management survey top spots

With the recent Libor scandal failing to shake asset managers' confidence in London, emerging centres will have to work hard if they are to overtake the UK capital as the world's leading asset management centre.
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Established centres keep hold of asset management survey top spots

If there was ever a time when it might seem as if London and New York were in danger of losing their appeal as finance centres, it is now. The past few months have seen a succession of potentially damaging headlines focusing on London's Libor fixing scandal and the charges brought against Standard Chartered by New York's regulators. Against this backdrop, asset managers might understandably feel the time is right to move to pastures new.

Results from The Banker's global asset management survey, however, show that London and New York are still the leading locations for world's asset managers. It seems, for the time being at least, that the advantages of operating out of such established centres outweigh any downsides that have been highlighted by recent events.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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