Frankfurt Emerges as Biggest Banking Winner After Brexit
- Morgan Stanley, StanChart, Citigroup eye city for EU hub
- Firms planning for worst even as hopes for soft Brexit grow
Z/Yen Says London Still Tops Financial Centres Index
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Frankfurt is emerging as the biggest winner from last year’s Brexit vote, with many of the world’s biggest banks choosing to base their new European Union headquarters in the German city.
Standard Chartered Plc, Nomura Holdings Inc. and Daiwa Securities Group Inc. have picked Germany’s financial capital for their EU base to ensure continued access to the single market. Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley are weighing a similar decision, said people familiar with the matter, asking not to be named because the plans aren’t public.