Banks leaving London lean toward Frankfurt over Paris

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10 foreign banks in the last 12 months have selected Frankfurt am Main, choosing this German city for the transfer of its operations and staff from London, data from a survey of the German state bank Helaba showed. To date, 25 banks has already selected Frankfurt, including Goldman Sachs, JPMorgan, Citi and Barclays. The number of banks that moved to Paris for the past 12 months was 8. Luxembourg, Amsterdam and Dublin together attracted 15 banks. Frankfurt for foreign banks that were planning to move from the UK, was highly sought, as it houses the largest European stock exchange in Europe and the European Central Bank. In addition, Frankfurt is the headquarters of the leading German banks and investment companies.

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