Posts

Six new members join financial centre initiative Frankfurt Main Finance

The financial centre initiative Frankfurt Main Finance e.V. continues to grow. Bain & Company, Deutscher Fachverlag, Skubch & Company and Oliver Wyman join the ranks of supporting members. Two start-up companies, Compendor and Raisin, have joined the initiative as new FinTech members.

With their membership, representatives from public administration, research institutes, the financial market and financial technology express their commitment to the Financial Centre Frankfurt and their dedication to furthering its national and international significance as well as actively reflecting on matters of current interest to the financial services industry.

The initiative is an especially sought-after conversation partner for Brexit-related matters. Since discussions concerning the United Kingdom’s withdrawal from the European Union began in April 2016, Frankfurt Main Finance has reached more than eight billion potential contacts with its messages. Over 1,700 different media in 93 countries have either conducted interviews with representatives of the initiative or published statements and comments released by Frankfurt Main Finance.

“The initiative has been able to convey Frankfurt’s function as a bridge linking the London financial markets with the European Union as an important message internationally,” says Dr. Lutz Raettig, chairman of Frankfurt Main Finance. “Frankfurt Main Finance’s communications highlight the numerous benefits which make the Financial Centre Frankfurt the destination of choice for many financial services companies moving parts of their business out of London.”

At the general meeting, Dr. Raettig thanked Frankfurt Main Finance’s many members and supporters for their commitment and welcomed the new board members. Moving forward, Frank Westhoff will represent the Frankfurt Institute for Risk Management and Regulation on the initiative’s board in lieu of Wolfgang Hartmann. Nick Jue succeeds Roland Boekhout as the representative of ING DiBa. Gerhard Wiesheu will represent Bankhaus Metzler in place of Johannes Reich. Dr. Cornelius Riese will replace Lars Hille as DZ Bank’s representative.

“By assigning their board members, our regular members highlight the significance of the work performed by Frankfurt Main Finance for the Financial Centre. We are thrilled by the great commitment shown by all parties involved who support us with Brexit-related matters as well as the city’s development as a FinTech hub and a renminbi centre,” says Dr. Lutz Raettig.

Baker McKenzie, GFT and Interxion AG will leave the initiative at the end of the year. Accordingly, the association has nearly 50 members engaged in supporting the Financial Centre Frankfurt.

Brexit Negotiations

Frankfurt Main Finance hopeful for constructive Brexit negotiations

With the formal declaration by the United Kingdom’s government to withdraw from the European Union, Brexit has now entered a new and decisive phase. Hubertus Väth, Managing Director of Frankfurt Main Finance e.V. states, “The beginning of the exit negotiations between the United Kingdom and the European Union are imminent. The negotiating parties are entering uncharted territory. Of the utmost importance, will be standing fast to the maxim that maintaining stability in the financial system must take precedence over individual interests. Both parties must strike the delicate balance between averting a cliff-edge scenario while still maintaining the recognizable appeal of membership in the EU.”

Frankfurt Main Finance continues to regret the United Kingdom’s withdraw from the EU and anticipates the loss of rights, including passporting. Managing Director Väth further explains, “The Financial Centre Frankfurt is exceptionally situated to assume a position functioning as a bridge for London into the EU. As the home of the European Central Bank, the Europe’s insurance supervisory mechanism, Europe’s largest stock exchange and the largest internet hub for data traffic, Frankfurt offers best infrastructure for credit institutions and financial services providers active across Europe. Frankfurt’s TechQuartier and dynamic, growing FinTech ecosystem have been distinguished by the Federal Government with the Financial Centre Frankfurt’s appointment as Germany’s Digital Hub for the finance industry. Therefore, we still estimate that around 10,000 jobs will be relocated to Frankfurt in the coming years.”

Contact Person for Media Inquiries:
Dr. Ralf Witzler
Frankfurt Main Finance e.V.
Telephone 069 94 41 80 – 50
ralf.witzler[at]fmfinance.de

Frankfurt Main Finance

Brexit Fever – FMF on FINANCE-TV

The votes have been counted and the UK has decided to leave the EU. But how will this decision affect the Financial Centre Frankfurt? Frankfurt Main Finance’s Hubertus Väth sat down with FINANCE-TV to discuss how Brexit will affect European financial centres and what Frankfurt has been doing capitalize on this opportunity. With some experts predicting that 100,000 jobs could leave London’s financial district, there is a lot at stake and Frankfurt Main Finance had all hands on deck in the hours rigth after the announcement. In cooperation with their partners, Frankfurt Economic Development and FrankfurtRheinMain GmbH, Frankfurt Main Finance launched a website, welcometofrm.com, an information hotline and a social media campaign on LinkedIn and Twitter targeted at decision makers in London’s financial sector. Watch Hubertus Väth’s full interview in the video below (German).

Source: www.finance-magazin.de/finance-tv