Advantages of the Location Frankfurt

Frankfurt Main Finance wins four new members

The Financial Centre Initiative Frankfurt Main Finance e. V. welcomes four new members, growing its ranks to 69. KPMG AG Wirtschaftsprüfungsgesellschaft, Quirin Privatbank AG and Sumitomo Mitsui Banking Corporation (SMBC) join the initiative as sustaining members and Frankfurt Solutions as a Fintech member.

Through their membership, the representatives from academia, the financial industry, public administration, and the up-and-coming FinTech sector express their solidarity with the Financial Centre, take up current topics of the finance sector and demonstrate their commitment to the growing domestic and international importance of the Financial Centre Frankfurt and the Rhine-Main region.

“In times when there is considerable uncertainty in many areas, it is all the more important to combine the various strengths of the financial industry, to actively shape the future of the Financial Centre in concert, and to grow and flourish together. With the support of our longstanding and new members and thanks to our steadily growing industry network, we can jointly develop coordinated approaches to resolve the issues of the future,” insists Dr. Lutz Raettig, President of Frankfurt Main Finance.

Sven-Olaf Leitz, Member of the Board at KPMG Germany with responsibility for Financial Services, is delighted that KPMG has joined Frankfurt Main Finance. “A financial sector has grown up in ‘Mainhattan’ that enjoys an excellent reputation across the world. It is therefore not surprising that the Squaire building at Frankfurt Airport houses the largest of the more than 20 branch offices we maintain in Germany. This underlines the importance of the Financial Centre Frankfurt for us in our activities as one of the largest consulting and auditing companies. We value the close proximity to a wide range of financial actors and market players and appreciate the intensive exchange between the domains of academia, science and business practice that the Main metropolis offers. As a result, the Financial Centre is constantly evolving, and we are pleased to be able to make a further contribution to this development by becoming a member of Frankfurt Main Finance e.V.”

Holger Clemens Hinz, Managing Director in the capital market business of Quirin Privatbank AG, explains, “We are happy to be a member of Frankfurt Main Finance with immediate effect, as this gives us the opportunity to actively shape the future of the Financial Centre Frankfurt together with the other partners and the financial community. As a result, we can participate as a financial institution not only in the orientation of the operational banking business in Frankfurt, but we can also inform important strategic decisions made by politicians and the city government. This is something we see as highly valuable, just as we also value the exchange that is possible with universities.”

David Kleinz, founder of Frankfurt Solutions, points out, “Just as the name Frankfurt Solutions signals a commitment to the location of Frankfurt, so does our membership in Frankfurt Main Finance. With active involvement and the fertile exchange of views and ideas, we would like to become a strong link in this network and consolidate and benefit from the promising developments in the heart of Europe. We look forward to creating new ideas, events, contacts and joint projects with the other members.”

Statement on the agreement between the EU and Great Britain

The European Union and the United Kingdom have agreed on a Brexit extension until January 31st, 2020.

Hubertus Väth, Managing Director of the Financial Centre initiative Frankfurt Main Finance, says:

“Frankfurt Main Finance welcomes the European Union’s decision to agree to an extension of the United Kingdom’s withdrawal from the EU. The chances of an unregulated Brexit to occur are now considerably reduced after the approval of the current agreement. We understand this to be a victory of reason.”

FMF welcomes agreement between the European Union and the United Kingdom

“Frankfurt Main Finance welcomes the agreement reached between the European Union and the United Kingdom. This forms a basis for limiting the economic damage that could be caused by the withdrawal, creates clarity and reduces associated risks. At today’s annual meeting of the IMF and the World Bank, there is a palpable sense of relief in Washington amongst the banks who’ve long hoped for an agreement.

The compromise demonstrates that diplomacy between Brussels and London is intact, despite the intense arguments concerning an agreement over the past weeks and months. However, it remains to be seen whether the current agreement can be implemented.

The question of the backstop makes it clear that pragmatic solutions in the interests of both sides can be reached. This gives reasons to hope that that yet another victory in the negotiations can be reached in the near the future.”

Hubertus Väth, Managing Director of Frankfurt Main Finance