There was a lot to discuss: About 50 representatives of foreign banks met the German financial advisors Bafin in Frankfurt. They outlined the requirements for a german bank licence to the managers. The reason was of course Brexit. Because of Britains EU-exit, the banks might move tens of thousands of workplaces from Europe’s biggest financial area London to Euro states. Frankfurt would profit from this.
After all, the results of a survey showed that Germany is the best location for British companies to „escape“ to. Ernst & Young questioned 254 Top managers from Europe, America and Asia in November about the consequences of Brexit. According to them, every seventh company is considering to move departments out of Great Britain. Favourite location is Germany, before Holland and France.
The advisors investigate every year where the most attractive locations are to invest for managers. Germany is leading in Europe, but since the Brexit referendum last year, the gap to Great Britain, which is number 2 in the survey, is a lot bigger. Hubert Barth, head of Ernst & Young in Germany, stated that Germany could become an anchor of stability for foreign companies „in a volatile environment, where also in neighbouring countries populists are taking hold of power and nationalism is spreading.“ Solid, secure, German.