Mark Yeandle, Jeremy Horne, Nick Danev and Alexander Knapp
City of London Corporation (March 2009), 52 pages.
GFCI 5 results reflect the severe loss of confidence across all centres. There has been a significant fall in scores for all 62 centres rated here, reflecting a more negative perception of the performance of financial services generally and the effect of the severe downturn in some financial sectors, in particular in investment banks and hedge funds. There is also a much higher degree of uncertainty about the future amongst financial services professionals, demonstrated by a greater degree of volatility in their questionnaire responses regarding current and future competitiveness and success – this is a global crisis with a widespread negative effect on predictability.
The Global Financial Centres Index (GFCI) was first produced by the Z/Yen Group in March 2007 following another research project into city competitiveness undertook in 2005. The aim of the GFCI is to examine the major financial centres globally in terms of competitiveness. The GFCI has been published every six months (although the index is actually produced every three months). Find out more about previous editions of the GFCI in the Financial Centre Futures Publications section.
The GFCI is regularly mentioned in the media globally. For more information, see our media coverage section.