Kings of the financial world fall from favour

MATTHEW LYNN

Looking to set up a new private equity or hedge fund? Wondering where to stage an initial share sale...

Looking to set up a new private equity or hedge fund? Wondering where to stage an initial share sale? Or just looking around for a headquarters for your company? Until recently, there would have been only two cities on your list. In the last two decades, New York and London have emerged as the undisputed kings of the financial world. Anyone who wanted to make a mark in finance headed for one or the other because there was no better place to do business. And now? For different reasons, both are looking tarnished. New York and London are either over-regulated or over-taxed. There is room f...