economy · European economy · General

Banks may move to Frankfurt

Brexit fall out

Leading banks and financial institutions indicate that they may relocate to Germany, mainly Frankfurt as a results of Brexit.

International banks are getting serious about moving staff to Frankfurt after last year’s Brexit vote spurred competition among European cities to lure jobs away from London.

“Nothing concrete happened last year, but that all changed in the first quarter of this year,” said Carsten Ape, head of office leasing for Germany at U.S. property broker CBRE Group Inc. “Banks are now looking in earnest at specific locations.”

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