Haynesville Consulting
Global Financial Centres
There have over the years been many dubious discussions relating to where the majority of the world’s financial centres take place.
The race for supremacy between New York’s Wall Street historic Investment Banking and London’s City ultra-modern interpretation of Capital Market has been very closely contended for many years. In addition, Shanghai, Hong Kong and Singapore are also attractive regional financial centres.
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Haynesville Consulting brings its senior Investment Bankers giving a detailed explanation of the career and cultural difference among various financial centres.
New York and London
New York City, represented by Wall Street, has been described as a leading financial centre. It is the largest centre for trading Capital Market driven by the financial development of the U.S. economy. Several Investment Banks and Investment Managers headquartered in New York are important market participants.
Over the past few decades, with the rise of a multipolar world with new regional powers and global capitalism, numerous financial centres have challenged the Wall Street, particularly London and several in Asia.
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During the 20th century, London played an important role in the development of new financial products such as the Eurodollar and Eurobonds, Asset Management and Equities Trading, and Derivatives Markets. London benefits from its position between the Asia and U.S., and becomes the largest centre for derivatives markets, FX markets and commodities markets.
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Shanghai, Hong Kong and Singapore
Asia is the largest population centre and has the fastest growing economies. There are many companies and sovereigns looking to investment – both Equity and Debt, and as such there are large Investment Banking practices. Investment Banks in Asia are generally headquartered in:
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Shanghai: large regional offices in China
Hong Kong: historical gateway to China
Singapore: Southeast Asia coverage
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China has made a great market capitalisation in Equity and Debt Capital Markets (85% of Asia), as well as a Mergers & Acquisitions (52% of Asia). China is also opening its market to allow more foreign investment into the country’s $344 billion Capital Market, giving investors direct access to the local Equity and Debt markets.
