Building Blocks of a Financial Centre
The new yearbook of Frankfurt Main Finance outlines the success factors for a financial centre. In it, well-known experts from the financial sector and politics discuss the key components of a successful financial centre. The authors and interviewees include, among others, the German Minister of Finance Wolfgang Schäuble, the Minister-President of Hesse Volker Bouffier, President of BVI Thomas Neiße, Deutsche Bank Management Board member Hermann-Josef Lamberti and Deutsche Börse Executive Board member Frank Gerstenschläger.
"Frankfurt is highly respected around the world as a financial centre. Particularly for emerging financial centres in Asia, the Near East or in Latin America, we are a sought-after dialogue partner and adviser in the development of the financial centres in these regions. The important components of a strong financial centre and the factors that determine success are the central issue in our 2011 yearbook," explains Lutz Raettig, the spokesman for the Executive Committee of Frankfurt Main Finance.
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The articles in the yearbook deal, among other things, with the following topics:
Wolfgang Schäuble, the Minister of Finance of the Federal Republic of Germany urges further reforms of the global financial system and warns against a slowdown in efforts. He also advocates a European solution in the implementation of a financial transaction tax.
Gertrud Traud, Chief Economist at Helaba Landesbank Hessen-Thüringen, and Stefan Winter, Chairman of the Board of the Association of Foreign Banks in Germany, refer to the role of the Frankfurt financial centre as a "springboard to Europe".
Hermann-Josef Lamberti, Board member at Deutsche Bank, forecasts that banks will enhance their IT efficiency in future through the use of cloud computing. This, he says, is also more environmentally friendly than existing IT structures due to its higher efficiency.
Markus Krall, Senior Partner and Global Head of Risk Management at Roland Berger Strategy Consultants, calls for the establishment of a European rating agency in the near future. He sees eight strong reasons for such a European institution – from the need to break up the monopolistic structures to a lack of understanding at US organisations for European conditions.
