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Nomade
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Posts: 169
Joined: January 19th, 2008, 10:26 pm

On New York vs London (again)

June 17th, 2008, 2:32 am

If you search you can find many discussions on this, none of them quite recent. London is overtaking New York in pretty much ... everything. The two things the US used to lead, securitization and leveraged loans, are suffering significant contraction. There are many reasons for that, but the usual suspects are US immigration analness, increased and opaque regulation after Enron, and the simple fact that London is in a better geographical location. That said, the US is where innovation tends to happen and I would wager that it still trumps London in raw talent. Now that banks are migrating back to downtown Manhattan there are initial signs of a rebound (see this month's TM). Will NYC ever rebound and regain its place? Or the next thing we'll be comparing is NYC vs Hong Kong?
 
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rmax
Posts: 6080
Joined: December 8th, 2005, 9:31 am

On New York vs London (again)

June 17th, 2008, 6:37 am

Intresting - never considered NY to be at the forefront. When I look at the trades done, generally (although not always), the complex stuff is done out of London and Pac Rim - normally due to the complexities of multi currency and the Pac Rim regulation. I am a Brit so perhaps I am biased - would be interested in other peoples views... Will only take into account if you specificy nationality.
 
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bogracer
Posts: 94
Joined: February 7th, 2005, 5:35 pm

On New York vs London (again)

June 17th, 2008, 8:01 am

business tends to migrate to cities where the tax/regulatory treatment is favorable and outlook clear. this is the only factor that matters, despite volumes of posts comparing food, quality of life, cost of living, infrastructure, etc.
 
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farmer
Posts: 13477
Joined: December 16th, 2002, 7:09 am

On New York vs London (again)

June 17th, 2008, 11:46 am

QuoteOriginally posted by: NomadeWill NYC ever rebound and regain its place?No.QuoteOriginally posted by: Nomadethe US is where innovation tends to happenI don't think there is a very innovative culture on Wall Street today, or will there ever be again.
Last edited by farmer on June 16th, 2008, 10:00 pm, edited 1 time in total.
 
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Nomade
Topic Author
Posts: 169
Joined: January 19th, 2008, 10:26 pm

On New York vs London (again)

June 22nd, 2008, 6:03 pm

QuoteOriginally posted by: farmerQuoteOriginally posted by: NomadeWill NYC ever rebound and regain its place?No.QuoteOriginally posted by: Nomadethe US is where innovation tends to happenI don't think there is a very innovative culture on Wall Street today, or will there ever be again.Why do you say that? Innovation still happens, and I see quite a lot of innovative people working on Wall St. But I agree it is hard to see NY coming back as the money center.
Last edited by Nomade on June 21st, 2008, 10:00 pm, edited 1 time in total.
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