1. Ekaterina GolyatinaGroup 176

2. Toronto

3. Shooting to be a top five financial center Actually, they're a (quiet) financial giant World leader in mining listings

4. Toronto Luxembourg

5. Exotic, secretive tax haven Increasingly popular for private equity Tiny town, looming regulation

6. Toronto Luxembourg Sao Paulo

7. Emerging Latin American leader Huge banking sector opportunity Legendary nightlife, plus the Olympics and World Cup

8. Toronto Luxembourg Sao Paulo Zurich

9. No threat of bonus taxes Highly developed financial infrastructure Amazing quality of life, but New York or London it ain't

10. Toronto Luxembourg Sao Paulo Zurich Shanghai

11. Amazing access to China Financial reforms coming Because Beijing wants to crush Hong Kong

12. Toronto Luxembourg Sao Paulo Zurich Shanghai Hong Kong

13. The rapidly growing Asian finance leader Low, low taxes Western-friendly city

14. Toronto Luxembourg Sao Paulo Zurich Shanghai Hong Kong Singapore

15. Bankers love it because it's way sunnier than New York Super easy to start a business Good financial infrastructure and support; everything works

16. Toronto Luxembourg Sao Paulo Zurich Shanghai Hong Kong Singapore Tokyo

17. Still a critical Asian hub Major IPO and M&A player Could lose ground to other Asian cities

18. Toronto Luxembourg Sao Paulo Zurich Shanghai Hong Kong Singapore Tokyo Johannesburg

19. Sophisticated financial infrastructure Financial hub of the world's last major untapped market--nearly 1 billion consumers Dangerous, tense city

20. Toronto Luxembourg Sao Paulo Zurich Shanghai Hong Kong Singapore Tokyo Johannesburg Dubai

21. Emerging regional financial hub Amazing tax advantages Firesale prices on impossibly opulent housing and offices