The Japanese investment bank Mizuho Securities Co. Ltd., a core group company of Mizuho Financial Group, Inc., announced today that it has begun procedures to apply for a license to further expand its presence in the Financial Centre Frankfurt. In addition to Daiwa, Nomura, and Sumitomo Mitsui Financial Group, a fourth major Japanese bank has now decided to establish a hub in Frankfurt am Main.
“Frankfurt e yokoso, welcome to Frankfurt Mizuho! We see Mizuho’s decision as another show of trust in the Financial Centre Frankfurt, for which we are most grateful,” says Hubertus Väth, Managing Director of Frankfurt Main Finance. “Overall, Frankfurt’s many advantages create a convincing package. Now, four of the five leading Japanese banks and securities corporations have chosen Frankfurt for their European hubs after an extensive and thorough due diligence process. We look forward to supporting them in establishing their operations in any way possible.”
Väth futher explains that “the banks’ decisions to move their business from the Themes to the Main over the past few weeks, strengthen Frankfurt’s position as a significant financial centre, not only in Europe, but globally as well.” Frankfurt Main Finance expects at least twelve banks to announce their decision to relocate to the Financial Centre Frankfurt this year. “We are one step closer to our ambitious objective of having twenty banks placing their trust in the Financial Centre Frankfurt this year. The past weeks should alleviate any doubts concerning Frankfurt’s attractiveness to the world’s major investment banks,” says Väth.
The Financial Centre Frankfurt is in the pole position to win banking business from London following the results of the UK’s referendum. Noted for its strong economic and political stability, Frankfurt and the region offer a top infrastructure, competitively priced and plentiful modern office space, a deep talent pool and an extremely high quality of life. Financial services moving to Frankfurt will find a competent, helpful and welcoming regulator in BaFin, who will accept large portions of applications in English. The Financial Centre is already home to more than 150 foreign banks and 75,000 people employed in financial services.