According to UK law firm Eversheds, increasingly US clients of the firm are opting to go direct to continental Europe rather than using London as a financial gateway. But it is not only European centers that London has to fear. In a survey Eversheds conducted late last year of 600 senior business decision-makers across five economic centers -- London, Mumbai, New York, Shanghai and the United Arab Emirates -- 87% of respondents indicated that traditional financial centers such as London face increasing competition from emerging financial centers.
Financial Turmoil Hits London's Status Anita Hawser Global Finance; Mar 2010; 24, 3; Docstoc pg. 6 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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