Executives in financial services firms are being drawn to Singapore and Hong Kong rather than Western cities such as London because they have a "bank friendly" environment, according to a new report.

Fewer named the UK capital as the financial centre they most liked to work in, found a study of more than 450 senior staff.

Almost a third named Singapore first, with one in five plumping for New York and 19% naming London, down from 22% last year.

Financial services recruitment firm Astbury Martin said almost two-thirds of those polled expected the Asia-Pacific region to be the biggest financial services centre in 10 years.

Mark Cameron, chief operating officer at Astbury Marsden, said: "A fast-growing, low-tax and bank-friendly environment like Singapore stands as a perfect antidote to the comparatively high tax and anti-banker sentiment of London and New York.

"While some commentators have turned a blind eye to it, the increasing mobility of the workforce means that far more London-based bankers are now more willing and able to relocate the 6,700 miles to Singapore.

"Young investment bankers, without commitments of a family, now see a move to the Asia-Pacific region as a crucial step up the corporate ladder, rather than a hardship posting. We are increasingly being asked by talented candidates to find them roles in the Asia-Pacific region."