New York Topples Brexit-Hit London as Top Financial Center

New York has replaced London as the world’s top financial center as Brexit saps the confidence of U.K. industry professionals, according to a survey.

Britain’s capital fell to second place in the Global Financial Centres Index published Wednesday by research firm Z/Yen and the China Development Institute. Zurich, Frankfurt, Amsterdam, Vienna and Milan all moved up the rankings, benefiting from uncertainty over the terms of the U.K.’s divorce from the European Union.