Michael Mainelli, Executive Director of Z/Yen, told CNBC’s Maria Bartiromo that London is pulling even with New York as the world’s business capital. So why is Wall Street losing its edge?
Mainelli points to stricter financial regulations in the United States. “The U.S. definitely needs to look hard and long at the regulatory system,” he said on "Closing Bell." Mainelli also said London offers flexibility. “You can get in and get out.”