New York will regain its status as the leading financial centre in the world, a study suggests.
Almost three in 10 respondents (29%) to a Bloomberg poll, including investors, traders and analysts, forecast New York will be the best place for financial services by 2011.
Singapore was chosen by 17% of respondents while London trailed in third place with 16% of the votes. Shanghai has 11%, while Tokyo received a mere 1% backing.
The findings come despite the results of the World Economic Forum Financial Development report, issued last month, which placed the UK as the world's leading international financial centre
That report, which ranked 55 of the world's leading financial systems and capital markets, found the UK was stronger than Australia and the USA because of its "relative strength of its banking and non-banking financial activities".
Richard Nolan, a strategist at the London brokerage firm Newedge Group and one of the Bloomberg poll respondents expressed a general concern regarding London's future competitiveness:
"Americans will fight harder against politicians than those in Europe and stand a better chance of a compromise on regulation, taxes and populism," he said. "So New York and London will suffer but I believe that London will suffer more."
The quarterly Bloomberg Global Poll of investors and analysts in six continents was conducted last month and is based on interviews with a random sample of 1,452 Bloomberg subscribers.
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