Finance jobs in Singapore likely to benefit as republic closes on London

Singapore has closed the gap on the world''s leading financial centres, according to a report.

Finance jobs in Singapore could be boosted by the latest Global Financial Centres (GFC) report, released by the City of London Corporation.

The report examined data collected between July and December 2009 and determined that New York and London are tied at the top of the chart.

However, the information highlighted strong performances from Hong Kong, Singapore, Shanghai and Beijing as Asia closed the gap on its western counterparts.

Stuart Fraser, policy chairman at the City of London Corporation, indicated that London could not afford to rest on its laurels.

Mr Fraser said: "Although London and New York have always led the pack, this research is a wake-up call for decision-makers that our standing as a world-leading global financial centre should not be taken for granted."

Earlier this week, a report from the City of London Corporation highlighted the importance of public equity funding for small to medium-sized business in viewing the wider economy as a whole.