Oliver Behrens is the new President of FMF
The Executive Committee of Frankfurt Main Finance has elected Oliver Behrens as President of the financial centre initiative. Behrens succeeds Gerhard Wiesheu, who has held the position since 2020. Wiesheu is now relinquishing the role in rotation. The Bankhaus Metzler will continue to be represented on the committee, with Franz von Metzler joining the board as a new member. The election of Behrens and von Metzler was unanimous.
First “Capital Markets Conference on Energy Transition for Germany” organized by KfW and Deutsche Bank
On July 9, 2024, KfW and Deutsche Bank held their first investor conference in Frankfurt with more than 180 high-ranking representatives from the financial and energy industries as well as politics. The aim was to discuss investment opportunities in the German energy sector and promote dialog between institutional investors, energy companies and politicians.
Increased investment in cyber security required
Security is at the heart of innovation: in the face of rising cyber risks, companies around the world are increasing their investments in cybersecurity. Geopolitical uncertainties, regulatory developments and financial losses caused by cyber attacks are driving budgets in the German market by at least 5%.
Artificial intelligence is gaining ground in the digitalisation of accounting – but still holds a lot of potential
The PwC study “Digitalisation in Finance and Accounting 2023” shows that almost 60 per cent of the companies surveyed are currently driving forward a comprehensive transformation of their finance function. Staff shortages and regulatory requirements are putting increasing pressure on the integration of technologies. Interestingly, just under 20 per cent of respondents stated that they would allow complete data extraction as part of the audit.
CFS survey on “Adherence to the debt brake”
German financial sector considers debt brake necessary – and favours option of easing during crisis periods.
ECB surveys Europeans on new themes for euro banknotes
Until 31 August 2023, the people of Europe have the opportunity to express their opinion on seven pre-selected topics. The Governing Council is expected to decide on the final choice of topics by 2024, and the final design of the banknotes will be decided by 2026.
Hubertus Väth on partnership with Finance Montréal: promoting cooperation on sustainability standards
Finance Montréal and Frankfurt Main Finance have signed a Memorandum of Understanding to support the Global Baseline in Sustainability Reporting of the International Sustainability Standards Board (ISSB). Green and Sustainable Finance Cluster Germany Managing Director Michael Schmidt spoke with FMF Managing Director Hubertus Väth about the background.
