I’ve seen references to the observation that Asia lacks a dominant financial hub in two places now:
1) McKinsey Global Institute: Mapping Global Capital Markets - Fourth Annual Report executive summary page 13:
Notably, Asia lacks a single dominant financial hub and has relatively weak cross-border financial ties in the region.
2) Newsweek: What Power Looks Like page 1:
Recalling an earlier crisis in global securities markets that he helped to manage, Geithner said the Fed brought together the leaders of the world’s 14 major financial firms, from five countries, representing 95 percent of all the activity in global markets. The Swiss were there, the Germans were there, the British were there. Interestingly, no Asians were there, not even the Japanese.