Frankfurt’s Brexit Pitch: We’ll Make It Easy to Fire Bankers
- Proposal would relax employment law to streamline layoffs
- Executives considering a move “are afraid of German contracts”
U.K. Faces Growing Chorus of EU Leaders' Demands
This article is for subscribers only.
In the jostling to lure London bankers post-Brexit, Paris touts its cultural and culinary offerings, Amsterdam its digital connectivity, and Dublin its use of English. Frankfurt’s pitch: make it easy to fire bankers.
Hesse, the German state that’s home to the country’s financial hub, is exploring ways to loosen employment law to allow banks to easily fire highly paid employees in a downturn -- which banks can do in the U.K. Hesse Finance Minister Thomas Schaefer said that could make Frankfurt more attractive to companies considering a move away from London.