“ INVESTMENT IS NOT JUST ABOUT CAPITAL FLOWS; IT IS ABOUT HUMAN POTENTIAL, ENVIRONMENTAL STEWARDSHIP & THE ENDURING PURSUIT OF A MORE EQUITABLE & SUSTAINABLE WORLD.”


REBECA GRYNSPAN, SECRETARY- GENERAL OF UNCTAD


THE NEW FINANCIAL HUBS Across the globe, cities once seen as regional outposts are emerging as serious contenders for global financial leadership. Global capital is also flowing into more unexpected destinations. Sovereign wealth funds, especially those from the Middle East and Asia, are pushing into fintech, ESG, and green infrastructure. For example, data published last year by GlobalSWF reported that Middle Eastern funds accounted for more than half the $96 billion invested by state-backed funds globally in the first six months of 2024. With


talent increasingly


globalised, and remote work still a key factor in attracting top talent, new financial centres are becoming more important, and governments are incentivising inward investment with tax breaks, special visas for highly-skilled workers and dedicated economic zones. “Investment is not just about


capital flows; it is about human potential, environmental stewardship and the enduring pursuit of a more equitable and sustainable world,” says Rebeca Grynspan, Secretary-


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General of UNCTAD, the United Nations Conference on Trade and Development in the IMF World Investment Report 2024. Yet the most recent EY-


Parthenon CEO Outlook, conducted in March, found that tariffs and trade are the key concern of global CEOs as they move quickly to navigate complexity amid global uncertainty. The current trade war between


the US and China, and the uncertainty over what type of deal President Trump will try to negotiate with Europe, is affecting global confidence around growth and investment as well as inward investment into the US. French President Emmanuel


Macron has asked EU businesses to stop investing in America as an act of European solidarity until the tariff situation has been resolved. The announcement of the trade deal between the UK and US in May has so far been light on detail, but does offer some concessions on importing cars and steel and aluminium into the UK, which will be good news for British businesses. However, it seems likely that President Donald Trump’s blanket


10 per cent tariffs on imports from countries around the world still applies to most UK goods entering the US. Here is our guide to


developments in the financial sector, and the regions with the fastest growing finance hubs.


LONDON & EUROPEAN HEADQUARTERS Despite the disruptions of Brexit, which drove financial firms to relocate some of their operations to Dublin and Paris to maintain EU membership and trade deals, London remains a key financial centre. It is still one of the top cities in the world for fintech innovation, according to the recent Global Financial Centres Index. Of 115 centres analysed, New York came top for fintech, followed by London, Shenzhen and Hong Kong. Along with New York and Singapore, London forms part of the trinity of global financial centres. For the financial sector overall,


New York also topped the index, followed by London, Hong Kong and Singapore. The cities of San Francisco, Chicago, Los Angeles,


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