‘Boring’ Frankfurt beckons as bankers consider giving boot to London after Brexit
With banks scrambling to ensure continued access to the European single market, more are leaning towards Frankfurt’s ‘Mainhattan’
Frankfurt/London — And the Brexit winner is … Frankfurt? Could it really be? The city on the banks of the river Main had ambitions for decades to establish itself on a global map. It wanted to become West Germany’s new capital after the Second World War, only to lose out to provincial Bonn. After the introduction of the euro, it tried to rival London as Europe’s financial centre, but never made it into the same league. With Britain turning its back on the continent and banks scrambling to ensure continued access to the single market, this town of about 700,000 is getting another shot at climbing the ranks. In recent weeks, more banks have said they’re leaning toward "Mainhattan," as the locals call their banking district, for their new EU hub. Standard Chartered, Nomura Holdings, Sumitomo Mitsui Financial Group and Daiwa Securities Group have picked the city. Citigroup, Goldman Sachs and Morgan Stanley are weighing a similar move. "Frankfurt has become the leading candidate for bank...
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