Capital loses finance rank

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EDINBURGH has fallen out of the top 30 financial and banking cities in the world for the first time.

The Capital dropped three places to number 32 in the Global Financial Centres Index, overtaken by Osaka, Stockholm and Wellington. Glasgow leapt 13 places to number 33.

CBI Scotland’s David Lonsdale said: “It’s been a difficult period, but the city has tremendous strengths across different aspects of the financial services industry.”