Move over New York, here comes…
[W]hile New York remains the dominant global-exchange center, we have been losing ground…. In 2005 only one out of the top 24 IPOs was registered in the U.S., and four were registered in London. London is gaining ground in other areas too, but it is not only London we need to worry about. Next year, ...
[W]hile New York remains the dominant global-exchange center, we have been losing ground.... In 2005 only one out of the top 24 IPOs was registered in the U.S., and four were registered in London. London is gaining ground in other areas too, but it is not only London we need to worry about. Next year, more money will be raised through IPOs in Hong Kong than in either London or New York.
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[W]hile New York remains the dominant global-exchange center, we have been losing ground…. In 2005 only one out of the top 24 IPOs was registered in the U.S., and four were registered in London. London is gaining ground in other areas too, but it is not only London we need to worry about. Next year, more money will be raised through IPOs in Hong Kong than in either London or New York. We cannot ignore these warning signs.”
That was the conclusion reached by New York City Mayor Michael Bloomberg and U.S. Sen. Charles Schumer in a recent op-ed they jointly penned for the Wall Street Journal. But if New York loses its position as the center of global trading, what financial center will replace it? In this week’s FP List, we take a look at some of the front runners.
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