Why Paris became the Brexit winner in the financial scene

Paris Expectations were high. The financial center Frankfurt will be the biggest winner of the British exit from the European Union, was the verdict of the Landesbank Hessen-Thüringen shortly after the decision. However, seven years after the British voted on Brexit at the end of June 2016, it is clear that things have turned out differently. Regardless of the riots in recent nights, Paris has left the Hessian Main metropolis behind as an EU financial center – and quite clearly.

Ferdinand Petra, finance professor at the Paris business school HEC, sums it up: “Since Brexit, Paris has clearly developed into the most important trading center in continental Europe.” In the current ranking of the British consultancy Z/Yen on the competitiveness of global financial centers, Paris is the first European city 14th place, Amsterdam in 16th place and Frankfurt only in 17th place.