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Our research

New Financial commissions and publishes regular papers, commentary and research on the capital markets industry. We work with business schools, academics and other experts to produce a regular research and analysis on some of the main challenges facing capital markets and market participants.

The return of the mystery of the missing jobs in banking and finance

A short paper on a recurring conundrum in the UK

Our latest reports

September 2026

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A short paper on a recurring conundrum in the UK

The return of the mystery of the missing jobs in banking and finance

May 2026

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The size and depth of capital markets in the E6 countries - and of their proposals to reform EU capital markets

The ‘E6’ group and the reform of capital markets in the EU

July 2026

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The size and growth of financial centres in 65 economies around the world

The New Financial international financial centres index

May 2026

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Rethinking the growth and competitiveness strategy and the wider framework for UK banking, finance, and capital markets

A new sense of ambition

June 2026

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Assessing the impact of a decade of the Charter and the challenge ahead

The 10 year review of the Women in Finance Charter

April 2026

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This short paper explores how an increased allocation to UK equities would have affected the performance of defined contribution pensions over the past five years.

UK equities and the performance of DC pensions

Previous reports

January 2019

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Analysis of the size, depth & growth potential of capital markets in 60 economies around the world.

The New Financial global capital markets growth index

September 2018

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Measuring the value of activity & size of financial centres in 48 countries around the world.

The New Financial international financial centres index 2018

April 2018

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Jon Lukomnik and Jim Hawley explore the underlying purpose of asset management, and how to reconnect the industry with that purpose.

What is the purpose of asset management?

January 2018

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If the industry wants to bridge the gap with the rest of society it should start by talking about itself in a different way.

A New Year rehab programme for the City of London

October 2017

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Analysis of what has and hasn’t changed in the capital markets industry since 2006.

A decade of change in capital markets

October 2018

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An analysis of the impact of capital markets on people's everyday lives through the lens of the economy in the North West England.

The impact of capital markets on people's everyday lives

July 2018

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Analysis of gender pay gap data and female representation in UK financial services.

Understanding the gender pay gap in banking and finance

March 2018

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This report is the first annual review of signatories to monitor their progress against their Charter commitments over the past year.

HM Treasury Women in Finance Charter – Annual Review 2017

November 2017

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Analysis of what a transition period would involve, the challenges in
reaching agreement, how best to get one - and what happens without one.

A transition to Brexit - deal or no deal?

September 2017

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Conflicting short-term hiring data is confusing the debate on London's future, which is being influenced by more than just leaving the EU.

Brexit & the City: missing the bigger picture on jobs

September 2018

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Understanding the diversity challenges facing the asset management industry and what firms are doing about it.

Diversity in portfolio management

May 2018

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Analysis of the size, depth and growth potential of capital markets in the UK.

The size, depth & growth opportunity in UK capital markets

March 2018

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Analysis of the size and depth of capital markets in the EU – and the potential growth opportunity in future.

The size, depth & growth opportunity in EU capital markets

October 2017

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Diversity is firmly on the corporate agenda, but this report looks time at what asset owners

Diversity from an Investor's Perspective

July 2017

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Analysis of the progress so far, the impact of Brexit, the shift in direction of the CMU project and a bolder vision for the future.

CMU 2.0: what next for capital markets union?

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