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Friday, 28 April 2017

Seven London-based banks 'set to open offices in Frankfurt'

Seven London-based banks 'set to open offices in Frankfurt'
- Another 20 banks are also seeking to move at least some staff, German media reported. Goldman Sachs, Citigroup, Credit Suisse and UBS are understood to be among those considering relocating staff. “A Chinese, Japanese, Korean, Swiss, Indian and a Russian bank have already opted for Frankfurt,” Hubertus Väth, managing director of Frankfurt Main Finance, the city’s business promotion association, told Handelsblatt on Wednesday. “In three of the five US banks, decisions have been made in favour of Frankfurt, or are in the offing,” he said. “With more than 20 banks, the talks are getting more and more concrete.”