A body, set up to evaluate the competitiveness of financial centres. worldwide has included the Isle of Man in its " top fifty", slotting it in at 21 as the leading offshore.
The first "City of London Corporation’s Global Financial Centres Index" was out in March.
Its aim is to produce an indicative rating of the competitiveness of each of the major financial centres in the world.
After referring more widely this time and identifying changing priorities and the concerns of finance professionals, this second edition drops the Channel islands, Cayman and Bermuda out of the top twenty and elevates the Isle of Man above them.
In a comment, it says " some see offshores as the weak link the the financial services industry but there is no denying their importance. Offshore holdings are estimated at between $5 trillion and$7 trillion, five times as much as twenty years ago and representing up to 8% of total global wealth".
Top of the whole list is London, then New York, Hong Kong and Singapore.
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