Helaba Financial Center Study: “Bank employment on the rise – but with dwindling momentum”

• The number of bank employees in the Main metropolis is rising moderately.
• Financial employment in Frankfurt and London with different cyclical patterns.
• Location attractiveness crucial for recruiting foreign skilled workers.

Helaba Research & Advisory presents study on Frankfurt as a financial center

Frankfurt am Main – Employment continues to rise in Germany’s largest banking center, albeit at a slower pace. “By the end of 2026, we expect employment in Frankfurt’s banking sector to grow by around two percent to approximately 75,500 employees,” says Helaba Chief Economist Dr. Gertrud Rosa Traud, summarizing the findings of the latest study on Frankfurt as a financial center.

Thanks to targeted recruitment measures, vacant positions have been filled, but the shortage of skilled workers is becoming noticeable, not least due to demographic change. In addition, regulatory requirements and increased bureaucracy are driving up staffing needs. Artificial intelligence and digital solutions could bring efficiency gains in the medium term and also provide some relief for the labor market.

“In order to increase the labor potential in Frankfurt as a financial center, Frankfurt should be further developed as an international education location and more foreign skilled workers should be recruited,” states Ulrike Bischoff, author of the study. “For this to succeed, we must further improve the international attractiveness and competitiveness of the location.” In order to actively address these challenges, Helaba is therefore working together with many other industry representatives in the Financial Center Initiative led by Hesse’s Minister President Boris Rhein.

Financial employment has also increased in London and Paris in recent years. While the trend in the UK capital, for example, is very cyclical, it is following a steady upward path in Frankfurt. In contrast to Paris, the upward trend in financial employment in the Main metropolis began even before Brexit, although both locations have shown an upward trend since then. However, comparing Frankfurt with other major financial centers is difficult due to statistical specifics such as different definitions of employment and regional boundaries.