Tremors Shake Global Capital Markets

Is New York losing out to London? McKinsey Global Institute Director Diana Farrell discusses worldwide shifts beyond the trans-Atlantic rivalry

Concerns that New York is losing its place as the world's preeminent financial hub to London have been discussed all the way up to the Chairman of the Federal Reserve. No doubt the rivalry will rumble on—and help ensure customers get a competitive deal in both centers. But other equally seismic shifts in the world's capital markets are taking place, according to the McKinsey Global Institute's third annual update of Mapping the Global Capital Markets.

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