London in the lead

The City of London is confirmed as Europe's leading financial centre - but the US investment banking giants that operate there outranked the Brits in the latest investment analysts' survey, out yesterday, writes JohnWillcock.

Stephen Parker, managing director of Tempest Consultants, which conducted the 1995 Ranking of European Larger Company Investment Analysts among Europe's leasing fund managers and finance directors, said there was "some amazement" in the City about the results. "It's one thing to hear about it, it's another to see it set down in black and white. The big US investment banks have organised their research teams along pan-European lines for some time now, and this shows through," Mr Parker said.