London’s efforts to challenge New York as the leading financial centre will receive a boost today with a new study by the World Economic Forum showing that the UK ranks alongside the US as the world’s most developed financial system.

The US and the UK come out as joint leaders of the WEF’s first “financial development index”, followed by Germany, Japan, Canada and France.

The index is an attempt to measure the health of the financial systems of 52 countries by looking at factors ranging from the stability of the banking sector to the soundness of the regulatory and political environment.

Financial Times