Brexit: Frankfurt offers what no other can

Brexit: Frankfurt offers what no other can

Why the metropolis on the Main is the preferred choice of London's banks.

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KPMG AG Wirtschaftsprüfungsgesellschaft

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People who move usually do so of their own accord. Yet this is not the case for London's banks. The banking hub on mainland Britain has been growing for centuries, but because of Brexit, London is losing its importance for companies.

Several cities have promising chances in the race for Europe's new banking hub - along with Dublin and Paris, Frankfurt is very popular amongst many firms.

Frankfurt scores especially highly with it's fast connection to a major international airport, its experience as Germany's financial hub, the German stock exchange as well as the excellently educated professionals qualifying from the educational institutes of Hesse every year. Furthermore, its close proximity to the European Central Bank (ECB) is very appealing for many banking institutions.

But that's not all: The city is also currently becoming more and more attractive for startups from the financial sector. TechQuartier , which only opened in 2016, has become a place where FinTechs and banks meet and discuss new business models.

We have also opened several exciting facilities in Frankfurt: Blockchain Node is the most recent and came into being in collaboration with Microsoft. There firms can test new technology in real conditions. 

In addition, with the Insights Center we have developed a place where we can show firms what they can do with Big Data Smart Data - and thereby create sustainable values

Moreover, Frankfurt is a cosmopolitan city that stands out due to its high quality of life. The Frankfurter Neue Presse reported in March that Frankfurt was ranked as the seventh best city for its quality of life by international comparison. 

This lies in having the Taunus on your doorstep for instance or being just a few hours drive from France, Switzerland or Austria.

© 2017 KPMG AG Wirtschaftsprüfungsgesellschaft, ein Mitglied des KPMG-Netzwerks unabhängiger Mitgliedsfirmen, die KPMG International Cooperative (“KPMG International”), einer juristischen Person schweizerischen Rechts, angeschlossen sind. Alle Rechte vorbehalten.

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