London is eating New York's Lunch

"London is the world’s largest market for dollars. When a company in Shanghai or São Paulo decides to sell public shares internationally, they’re very likely to choose London, too. In fact, if you follow the flow of money around the world, you might be surprised to find that the central node of global finance, the place where money passes through most often, is London, not New York. ...The City of London, its Wall Street, employs more than 300,000 people, whereas Wall Street itself employs fewer than 200,000. "
--http://www.nytimes.com/2012/03/04/magazine/how-london-surpassed-wall-street.html