Frankfurt am Main, July 14, 2022 – The Financial Centre Initiative Frankfurt Main Finance e. V. (FMF) welcomed six new members in the middle of the year.
Memoranda of Understanding on International Sustainability Standards Board (ISSB) signed in Frankfurt
The public and private sectors today signed agreements with the IFRS Foundation governing the presence of the International Sustainability Standards Board (ISSB) in Frankfurt.
Financial Centre Frankfurt to be one of the key locations of the International Sustainability Standards Board
Frankfurt’s application awarded key functions for the new International Sustainability Standards Board, which will develop future standards for global sustainability disclosures for financial markets: Frankfurt will be seat of the Board and also host the office of the chair. Montreal will also be providing key functions to the ISSB.
The two leading financial centers Shanghai and Frankfurt want to join forces and cooperate more closely in the near future. Representatives of both sides signed a memorandum to this effect on Thursday
Frankfurt has benefited from Brexit and is gaining the crown as the most important financial centre in continental Europe. This is according to the latest Global Financial Centres Index published today, which is compiled semi-annually by the international consulting firm Z/Yen Group.
German financial sector anticipates wave of insolvencies and accelerated branch closures due to pandemic.
Undeterred by the second wave of Covid-19, the sentiment of the financial sector is improving, certainly due in part to hopes raised by the newly developed vaccines.
The financial centre initiative Frankfurt Main Finance e. V. welcomed three new members at the turn of the year. The international law firm Alexander & Partner Rechtsanwälte mbB, the IT service provider SIA, which focuses on the financial sector, and Standard Chartered Bank AG have all come on board as supporting members. As a founding member of Frankfurt Main Finance, Morgan Stanley will continue to actively support the initiative through its new Frankfurt-based company for the EU 27 countries, Morgan Stanley Europe SE.
The initiatives of majorGerman financial centres founded the GERMANY FINANCE working group at the beginning of 2021. The participating organisations have thus initiated a joint platform to further promote the continuous exchange among each other and to provide a central point of contact for people from Germany and abroad who are interested in Germany as a financial centre.
The Executive Committee of Frankfurt Main Finance elected Gerhard Wiesheu as President of the financial centre initiative for the next two years.