Tarek Al-Wazir, economy minister for the German state of Hesse, where Frankfurt is situated, said that 18 banks have committed to Frankfurt since the Brexit vote. He said to the Press Association in London that “there will be other entities who are in the decision process now”. And he emphasized that ” if you compare everything that happened since the Brexit referendum and if you compare the real decisions made, I think we are number one on the continent and I’m sure this will continue.”
Though, Al-Wazir expressed that he’s “a little bit disappointed” as Paris was chosen as the new location of the London-based European Banking Authority. While Paris has its own competitive edges, Al-Wazir believed that “the ECB is far more relevant”.
Hubertus Vath, managing director of city lobby group Frankfurt Main Finance noted that there are “100 institutions” which have to make decisions on locations post Brexit. And, just around 40 have announced that decisions already. There are still 60 “up for grabs” for EU cities.