Brexit is already having noticeable effects on the financial hub of London. But what effect does Great Britain’s exit from the EU have on Frankfurt? In the future, many banks will have to say goodbye to their headquarters in London and relocate to states that still belong to the EU in order to continue to enjoy the benefits of a free banking system within the EU. Along with Paris, Dublin, Amsterdam and Milan, Frankfurt is a particularly attractive alternative to London.
In his new study, WHU Professor Lutz Johanning forecasts several thousand new jobs in the Rhine-Main region in the financial sector alone. Up to an additional 88,000 new jobs could also be created outside of the financial sector in the course of the next four years.
Professor Dr. Lutz Johanning has held the Chair of Empirical Capital Market Research at WHU – Otto Beisheim School of Management since 2007. His main research interests lie in the areas of empirical capital market research, financial risk management and emotional finance.