The 20 most important cities in global finance this year

There is fierce competition every year for a space on Z/Yen's Global Financial Cities Index, and 2015 is no different.

The ranks give cities a combined score based on five main factors: 

• Business environment
• Financial sector development
• Infrastructure
• Human capital
• Reputational and general factors.

There was a huge reaction when New York dethroned London as the world's top financial hub last year — but has London managed to take the crown back? And how are Asia's growing megacities doing as China's rapid growth cools?

20.) DOHA just makes it into the top 20, climbing from 22nd place last year, the capital of Qatar is the middle east's second most important financial hub.

19.) FRANKFURT is down three places on the list, despite the opening of the European Central Bank's massive new headquarters there.

18.) MONTREAL sneaks into the top 20, making it Canada's third highest-ranking financial centre.