The financial centre initiative, Frankfurt Main Finance (FMF) was founded ten years ago and is continuously growing in importance. FMF has grown in size too since the Brexit referendum and its impacts on the financial sector; today it has more than 50 highly reputed members. Founded in 2008 as a reaction to the financial crisis and at the instigation of Roland Koch, the prime minister of Hesse at that time, together with Petra Roth, the former lord mayor of Frankfurt, FMF lends the financial sector in Frankfurt city and region a voice that resounds across the world. “The Financial Centre Frankfurt plays an important role in addressing the major challenges posed to the financial sector by the UK’s exit from the European Union,” says Hesse’s prime minister Volker Bouffier. “In these times, it is important for Frankfurt Main Finance to pool the interests of the financial sector in Hesse and in the federal republic and make them heard. This also benefits trade and industry and, consequently, the state of Hesse as a whole.”
Founding of FIRM
The Frankfurt Institute for Risk Management and Regulation, supported by the association Gesellschaft für Risikomanagement und Regulierung e.V., is founded. Mutual representation on the Board of Directors by the respective Chairman has been in place ever since.
Emerging Financial Centres
At the request of the City, the federal state government and the Stock Exchange, Frankfurt Main Finance supports and endorses the initiation and consolidation of international partnerships. Today, the financial centre is associated in partnerships with the cities of Astana, Bahrain, Busan, Istanbul, Moscow, Beijing, Seoul and Shanghai.
Financial Centre Yearbook
In 2009, the first yearbook was published in German and English with the title From Insights to Outloook – Financial Centre Frankfurt.
First Frankfurt Finance Summit
For the first time ever, the association hosts the annual event as a conceptual sponsor for top decision-makers from banks, central banks, insurers, supervisory bodies, stock exchanges, policymakers and the academic community. Speakers include Angela Merkel, Wolfgang Schäuble, Michel Barnier and Christine Lagarde.
With the aim of improving financial education of young adults, the FMF sets up an online platform to aggregate the educational offerings of members for teachers and students alike. High-ranking representatives of the association pay a visit to selected schools in the Rhine-Main region.
Renminbi Trading Hub
A sub-working group headed by the FMF leads to Frankfurt being proclaimed the first offshore renminbi clearing centre in Europe. In addition, an information brochure is created and used on an international road show for SMEs.
“Financial Centres 2025” Study
Within the scope of a study carried out by the WHU Otto Beisheim School of Management, the awareness etc. of the association is surveyed and updated objectives are derived for the work to be carried out by Frankfurt Main Finance.
Cooperation with Eintracht Frankfurt
A cooperative venture with Frankfurt’s football club creates the connection between football and financial centre, giving rise to a highly noted conference and the staging of the Frankfurt Finance Cup with international financial centres and a strong publicity impact.
FinTech Dialogue Forum
By establishing the FinTech Dialogue Forum, the FMF and EY launch an initiative to make the Financial Centre Frankfurt more competitive on a national and international scale. Eleven working groups develop and initiate numerous measures, giving rise to TechQuartier.
FinTechGermany Award Golden Garage
Since 2015, the FMF in cooperation with the WM Group, the Rhine-Main Business Angels and Techfluence has hosted the award ceremony of the leading German investor prize for FinTechs.
Start of Brexit communications
The British EU referendum of 23 June 2016 marks the start of an information campaign promoting the Financial Centre Frankfurt, in the course of which opinions and messages of the association have appeared in some 2,000 media in 94 countries.
Publication of Multiplier Study
FMF commissioned WHU to conduct a study to examine the multiplier effect of an influx of Brexit Bankers. The results showed, that each additional finance job in the Financial Centre Frankfurt would create 3.6 to 8.8 additional jobs outside of the finance sector in the Rhein-Main Region. Thus, up to 88,000 additional jobs could potentially be created.