In terms of territory it is certainly smaller. But you might be surprised how much of the world’s assets are ultimately controlled from London.
London reminds me of Constantinople, in that as a capital of a former empire it amassed and concentrated great wealth even as its empire shrank. It’s just that Constantinople’s wealth was more tangible.
I found the book "Treasure Islands: Tax Havens and the Men who Stole the World" interesting
which has a large junk on this topic. The tax havens don't have data centers or any infrastructure, the banks of tax havens of the former English Empire have their money with banks in London.
