Toronto is now one of the world's top ten global financial centres according to the annual Global Financial Centre's Index (GFCI), published last week by London-based think-tank, Z-Yen. Canada's largest city has consistently ranked in the top 15, but this year marks the first time Toronto cracked the top 10, tying for 10th position with Sydney, Australia. As reported by
Business Standard, in another first, Toronto also ranked in the top 10 for each of the six industry sub-indices including asset management, banking, insurance and wealth management.
"We are encouraged that Toronto has continued to gain momentum and global recognition as a leader in financial services," said Janet Ecker, president, Toronto Financial Services Alliance."
"We recognize, however, that many countries around the world are competing fiercely to attract financial services business to their shores and that we have to continue to work intensely to sustain our leadership."
"Half of the cities on the short list are separated by fewer than 25 points on a 1000-point rating scale. London, New York and Hong Kong maintained their top three positions."
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Business Standard