New York has retained its ranking as the world’s number two financial centre, after London, according to the latest Global Financial Centres Index, produced by Z/Yen Group. However, respondents to the survey used to compile the index were most optimistic on the prospects for Asian cities.

Other prominent North American financial centres to rank in the index were Chicago (7), Toronto (10), Boston (12), San Francisco (13), Washington DC (17), Montreal (26), Cayman Islands (38), British Virgin Islands (40), and Mexico City (52).

The top three centres remain London, New York and Hong Kong. London has increased its overall rating by three points to 775, while New York and Hong Kong have each dropped one point, and are now rated at 769 and 759 respectively.

However, there is no “significant difference” between the top three centres, and respondents “continue to believe that these centres work together for mutual benefit”, according to Z/Yen.

There has been an overall drop in confidence among finance professionals since the previous index was produced six months ago, as shown by the fact that 47 centres have lower ratings compared with only 25 which have increased their ratings.

Respondents to the survey were most positive on the outlook for Asian cities, with Shanghai, Singapore, Seoul, Hong Kong and Beijing all expected to become more prominent financial centres over the next few years.

There are currently eight Asian centres in the top 20, compared to six North American centres and five European ones.

The GFIX is updated biannually, and rates 75 financial centres on 76 factors of competitiveness. Overall, 33,751 financial centre assessments from 1,970 financial services professionals were used to compute the index.