Headquartered in the Financial Centre Frankfurt, the European Central Bank (ECB) is the only central bank in the world to regularly create accurate growth forecasts for their own economic area like the International Monetary Fund (IMF) does for economic areas, according to Bloomberg Businessweek.
The excellent quality of the ECB’s forecasts continues to strengthen the existing intellectual infrastructure in the Financial Centre, which is traditionally synonymous with excellent, practical research and teaching in the fields of economics and finance. Further evidence of this, are the many research and educational institutions that have settled in Frankfurt, forming close links with banks, insurance companies and other financial service providers. Frankfurt’s Goethe University hosts alone hosts some 150 academics who teach and conduct research in the House of Finance.
Frankfurt School of Finance & Management is another top institution located in the financial centre. Other internationally ranked private universities with a dedicated specialization in finance in the region are the WHU – Otto Beisheim School of Management and the European Business School. Overall, the number of professors of Statistics, Finance and Macroeconomics in Frankfurt and Rhine-Main region total more than 70. In addition, the Frankfurt Institute for Risk Management and Regulation (FIRM) has established itself as an increasingly important institution since its founding in 2009. These and other institutions help to make the financial centre Frankfurt one of the leading competence centres for finance in Europe.
Dr. Lutz Raettig, Chairman of the Executive Committee of Frankfurt Main Finance emphasises the importance of well-trained workers for the Financial Centre: “A first-class location thrives on highly qualified personnel. The access to expertly trained employees is an important location factor for the attractiveness of a financial centre. Frankfurt, as the leading European competence centre for finance, provides this advantage.”