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.