Frankfurt is one of the world's most important financial hubs and Germany's financial capital, followed by
Hamburg and
Stuttgart. Frankfurt was ranked eighth at the
International Financial Centers Development Index (2013), eighth at the
Worldwide Centres of Commerce Index (2008), ninth at the
Global Financial Centres Index (September 2013), tenth at the
Global Power City Index (2011), 11th at the
Global City Competitiveness Index (2012), 12th at the Innovation Cities Index (2011), 14th at the
World City Survey (2011) and 23rd at the
Global Cities Index (2012). The city's importance as a financial hub has risen since the
eurozone crisis. Indications are the establishment of two institutions of the
European System of Financial Supervisors (
European Insurance and Occupational Pensions Authority and
European Systemic Risk Board) in 2011, and the entry into force in 2014 of
European Banking Supervision, by which the European Central Bank has become the central supervisory authority for the euro area banking sector. According to an annual study by
Cushman & Wakefield, the European Cities Monitor (2010), Frankfurt has been one of the top three cities for international companies in Europe, after London and Paris, since the survey started in 1990. It is the only German city considered to be an
alpha world city (category 3) as listed by the
Loughborough University group's 2010 inventory, which was a promotion from the group's 2008 inventory when it was ranked as an alpha minus world city (category 4). With over 922 jobs per 1,000 inhabitants, Frankfurt has the highest concentration of jobs in Germany. On work days and Saturdays, one million people commute from all over the
Rhein-Main-Area. The GRP per capita was €96,670 in 2019. The city is expected to benefit from international banks relocating jobs from London to Frankfurt as a result of
Brexit to retain access to the EU market. Thus far, Morgan Stanley, Citigroup Inc., Standard Chartered Plc and Nomura Holdings Inc. announced they would move their EU headquarters to Frankfurt.
European Central Bank The European Central Bank (
Europäische Zentralbank) is one of the world's most important central banks with a balance sheet total of around 7 trillion. The ECB sets monetary policy for the Eurozone, consisting of 19
EU member states that have adopted the
Euro (€) as their common currency. From 1998 the ECB Headquarters have been located in Frankfurt, first in the
Eurotower at Willy-Brandt-Platz and in two other nearby high-rises. The new
Seat of the European Central Bank in the
Ostend district, consisting of the former wholesale market hall (
Großmarkthalle) and a newly built 185-meter skyscraper, was completed in late 2014. The new building complex was designed to accommodate up to 2,300 ECB personnel. The location is a few kilometers away from downtown and borders an industrial area as well as the Osthafen (
East Harbor), It was primarily chosen because of its large premises which allows the ECB to install security arrangements without high fences. The city honors the importance of the ECB by officially using the slogan "The City of the Euro" since 1998.
Deutsche Bundesbank The (German Federal Bank), located in
Ginnheim, was established in 1957 as the central bank for the Federal Republic of Germany. Until the euro (€) was introduced in 1999, the Deutsche Bundesbank was responsible for the monetary policy of Germany and for the German currency, the
Deutsche Mark (DM). The Bundesbank was greatly respected for its control of inflation through the second half of the 20th century. Today the Bundesbank is an integral part of the
European System of Central Banks (ESCB) which is formed by all 27 EU member states. Its balance sheet total is around 2,7 trillion, making it the 4th biggest central bank.
Commercial banks , also known as
Westendstraße 1 or
Crown Tower, headquarters of
DZ Bank , headquarters of UBS Germany, at the Opernplatz In 2010, 63 national and 152 international banks had a registered office, including the headquarters of the major German banks, as well as 41 offices of international banks. Deutsche Bank is listed on the
DAX, the
stock market index of the 30 largest German business companies at the Frankfurt Stock Exchange. In November 2010 Deutsche Bank bought the majority of shares of competitor
Postbank. Its
headquarters are located at Taunusanlage in the financial district. •
DZ Bank — Central institution for more than 900
co-operative banks () and their 12,000 branch offices in Germany and is a corporate and investment bank. It is Germany's second-largest bank (total assets: €509 billion). The DZ Bank Group defines itself primarily as a service provider for the local Volksbanken and Raiffeisenbanken and their 30 million clients. The DZ Bank headquarters are the
Westend Tower and the
City-Haus at Platz der Republik. The DZ Bank Group includes
Union Investment, DVB Bank and
Reisebank, which are also headquartered in Frankfurt. •
KfW Bankengruppe — Government-owned development bank formed in 1948 as part of the
Marshall Plan. KfW provides loans for approved purposes at lower rates than commercial banks, especially to medium-sized businesses. With total assets of €507 billion (2017), it is Germany's third-largest bank. The KfW headquarters are located in the
Westend district at Bockenheimer Landstraße and Senckenberganlage. •
Commerzbank — Germany's fourth-largest bank by total assets (2017). In 2009, Commerzbank merged with competitor
Dresdner Bank, then the third-largest German bank. Due to the merger and the higher credit risks, Commerzbank was 25%
nationalized during the
Great Recession. It is listed in the DAX. Its headquarters are at
Commerzbank Tower (259 meters), the second-tallest building in the EU, at Kaiserplatz. •
Landesbank Hessen-Thüringen – Landesbank Hessen-Thüringen, or short Helaba, is a commercial bank owned by the states of
Hesse and
Thuringia (). As such, it is a service provider for the local
Sparkassen. Helaba is one of nine and is the fifth-largest in Germany. It is located in the
Main Tower in the financial district, the only skyscraper in Frankfurt with an observation desk open to the public. •
DekaBank – DekaBank is the central asset manager of the
Sparkassen in Germany. The headquarters of DekaBank are located at the
Trianon skyscraper at Mainzer Landstraße. •
ING Diba Germany – Germany's largest
direct bank, headquartered in
Bockenheim Other major German banks include
Frankfurter Volksbank, the second-largest
Volksbank in Germany, Frankfurter Sparkasse and old-established private banks such as
Bankhaus Metzler,
Hauck & Aufhäuser and
Delbrück Bethmann Maffei. Many international banks have a registered or a representative office, e.g.,
Credit Suisse,
UBS,
Bank of America,
Morgan Stanley,
Goldman Sachs,
Merrill Lynch,
JPMorgan Chase & Co.,
Bank of China,
Banco do Brasil,
Itaú Unibanco Société Générale,
BNP Paribas,
SEB,
Royal Bank of Scotland and
Barclays.
Frankfurt Stock Exchange in front of the Frankfurt Stock Exchange The Frankfurt Stock Exchange (
Frankfurter Wertpapierbörse) began in the ninth century. By the 16th century Frankfurt had developed into an important European hub for trade fairs and financial services. Today the Frankfurt Stock Exchange is by far the largest in Germany, with a turnover of more than 90 percent of the German
stock market and is the third-largest in Europe after the
London and the
Paris. The most important
stock market index is the
DAX, the index of the 30 largest German business companies listed at the stock exchange. The stock exchange is owned and operated by , which is itself listed in the DAX. Deutsche Börse also owns the European
futures exchange Eurex and clearing company
Clearstream. On 1 February 2012 European Commission blocked the proposed merger of Deutsche Börse and
NYSE Euronext. "The merger between Deutsche Börse and NYSE Euronext would have led to a near-monopoly in European financial derivatives worldwide. These markets are at the heart of the financial system and it is crucial for the whole European economy that they remain competitive. We tried to find a solution, but the remedies offered fell far short of resolving the concerns." European competition commissioner
Joaquín Almunia said. It is located downtown at the Börsenplatz. Deutsche Börse's headquarters are formally registered in Frankfurt, but it moved most of its employees to a high-rise called "The Cube" in
Eschborn in 2010, primarily due to significantly lower local
corporate taxes.
Frankfurt Trade Fair seen from the trade fair premises Frankfurt Trade Fair (
Messe Frankfurt) has the third-largest exhibition site in the world with a total of . The trade fair premises are located in the western part between
Bockenheim, the
Westend and the
Gallus district. It houses ten exhibition halls with a total of of space and of outdoor space. Frankfurt and the river
Rhine tributary
Main acquired transnational economic importance in the
Middle Ages. In 1337 the
Holy Roman Emperor Louis IV of Bavaria issued a diploma privilege so that any other city was not allowed to establish a market or trade fair if this could harm the Frankfurt Trade Fair in any way. This imperial backing allowed Frankfurt to retain the commanding importance of the Frankfurt Trade Fair for centuries. In the Middle Ages the full range of manufactured and semi-processed commodities were trade at Frankfurt Fairs. Hosted in Frankfurt are the
Frankfurt Book Fair (
Frankfurter Buchmesse), the world's largest book fair, the Ambiente Frankfurt, the world's largest
consumer goods fair, the Achema, the world's largest plant engineering fair, and many more like Paperworld, Christmasworld, Beautyworld, Tendence Lifestyle or Light+Building. Messe Frankfurt GmbH, the owner and operator company, organized 87 exhibitions in 2010, 51 thereof in foreign countries. It is one of the largest trade fair companies with commercial activities in over 150 countries.
Aviation Frankfurt Airport is one of the busiest airports in the world and is also the single largest place of work in Germany with over 500 companies which employ 71,500 people (2010).
Fraport is the owner and operator of Frankfurt Airport. It is the airport's second-largest employer (19,800 workers in 2010). Fraport also operates other airports worldwide, e.g.,
King Abdulaziz International Airport in
Jeddah,
Jorge Chávez International Airport in Lima and
Antalya Airport. The largest company at Frankfurt Airport is Lufthansa, Germany's
flag carrier and Europe's largest airline. Lufthansa employs 35,000 people in Frankfurt. The Lufthansa Aviation Center (LAC) is the main operation base of Lufthansa at Frankfurt Airport. The airport serves as Lufthansa's primary
hub with 157 worldwide destinations (compared to 110 destinations at
Munich Airport, Lufthansa's second-largest hub).
Lufthansa Cargo is based in Frankfurt and operates its largest cargo center (LCC) at Frankfurt Airport.
Lufthansa Flight Training is also based here.
Condor is a German airline based at Frankfurt Airport.
Other industries Accountancy and professional services Three of the four largest international
accountancy and
professional services firms
(Big Four) are present.
PricewaterhouseCoopers (PwC) German headquarters are located at
Tower 185.
KPMG moved its European Headquarters (
KPMG Europe LLP) to
The Squaire.
Deloitte Touche Tohmatsu are present, while
Ernst & Young is located in
Eschborn.
Credit rating agencies The three major international
credit rating agencies –
Standard & Poor's,
Moody's and
Fitch Ratings – have their German headquarters in Frankfurt.
Investment trust companies DWS Investments is one of the largest
investment trust company in Germany and manages €859 billion fund assets. It is one of the ten largest investment trust companies in the world. Other large investment trust companies are
Universal Investment, Allianz Global Investors Europe (a division of
Allianz SE, and a top-five global active investment manager),
Union Investment and Deka Investmentfonds.
Management consultancies Many of the largest international
management consultancies are represented, including
Arthur D. Little,
McKinsey & Company,
Boston Consulting Group,
Booz & Company,
Oliver Wyman,
Bearing Point,
Capgemini,
Bain & Company and
Roland Berger Strategy Consultants.
Real estate services companies Located in Frankfurt are the German headquarters of
Jones Lang LaSalle and
BNP Paribas Real Estate.
Law firms Frankfurt has the highest concentration of lawyers in Germany, with one lawyer per 97 inhabitants (followed by
Düsseldorf with a ratio of 1/117 and
Munich with 1/124) in 2005. Most of the large international
law firms maintain offices, among them
A&O Shearman,
Baker McKenzie,
Bird & Bird,
Clifford Chance,
Cleary Gottlieb Steen & Hamilton,
Debevoise & Plimpton,
DLA Piper,
Freshfields Bruckhaus Deringer,
Hogan Lovells,
Jones Day,
K&L Gates,
Latham & Watkins,
Linklaters,
Mayer Brown,
Milbank, Tweed, Hadley & McCloy,
Norton Rose,
Sidley Austin,
SJ Berwin,
Skadden, Arps, Slate, Meagher & Flom,
Sullivan & Cromwell,
Taylor Wessing and
White & Case.
Advertising agencies According to a ranking of German
FOCUS magazine (November 2007) seven of the 48 largest
advertising agencies in Germany are based in Frankfurt, including
Havas,
Dentsu,
McCann-Erickson,
Saatchi & Saatchi,
JWT, and
Publicis. Frankfurt is a media
business cluster. Around 570 companies of the advertising industry and 270
public relations companies are located in Frankfurt.
Food Frankfurt is home to the German headquarters of
Nestlé, the world's largest
food company, located in
Niederrad. Other important food companies are
Ferrero SpA (German headquarters) and Radeberger Gruppe KG, the largest private brewery group in Germany.
Automotive The South-Korean
automobile manufacturer Kia Motors moved its European headquarters to Frankfurt in 2007. In the same year, Italian manufacturer
Fiat opened its new German headquarters. The automotive supplier
Continental AG has the headquarters and a major manufacturing plant of its Chassis & Safety division (formerly ITT Automotive) located in Frankfurt Rödelheim.
Construction Some of the largest German construction companies have offices, e.g.,
Bilfinger Berger,
Hochtief, Züblin and BAM Deutschland.
Property and real estate Frankfurt has Germany's highest concentration of homeowners. This is partly attributed to the financial sector, but also to its cosmopolitan nature, with expatriates and immigrants representing one-fourth of its population. For this reason, Frankfurt's property market often operates differently than the rest of the country where the prices are generally flatter.
Tourism Frankfurt is one of Germany's leading tourist destinations. In addition to its infrastructure and economy, its diversity supports a vibrant cultural scene. This blend of attractions led 4.3 million tourists (2012) to visit Frankfurt. The Hotels in central Frankfurt offer 34,000 beds in 228 hotels, of which 13 are luxury hotels and 46 are first-class hotels.
Other and
Nintendo of Europe in the Lyoner Quartier heating plant Frankfurt is home to companies from the chemical, transportation, telecommunication and energy industries. Some of the larger companies are: • Industriepark Höchst — An
industrial park in
Höchst. It is one of Germany's largest with over 90 companies from the
pharmaceutical, the
chemical and the
biotechnology industry, including
Celanese,
Clariant,
BASF,
Merck KGaA and
Siemens. It was founded by chemical company
Hoechst AG in 1874. At the beginning of the 1980s Hoechst AG was the largest pharmaceutical corporation and Industriepark Höchst was known as "the pharmacy of the world". Hoechst AG merged with
Rhône-Poulenc to become
Aventis in 1999 and in 2004 Aventis merged with
Sanofi-Synthélabo to become
Sanofi-Aventis. In 2005, around 22,000 people worked at Industriepark Höchst. In 2011,
Ticona now part of
Celanese, an international manufacturer of engineering
polymers, moved to Industriepark Höchst. • Deutsche Bahn – Deutsche Bahn subsidiaries
DB Fernverkehr,
DB Regio,
DB Stadtverkehr,
DB Netz,
DB Schenker and the corporate development department of Deutsche Bahn are Frankfurt-based. • – 's subsidiary
T-Systems is Frankfurt-based. •
COLT – telecommunications company with Frankfurt-based German headquarters •
Nintendo — In 2014,
Nintendo of Europe moved its headquarters from
Großostheim to Frankfurt. •
CenturyLink —
internet service provider with German headquarters in Frankfurt •
DE-CIX – Frankfurt is an important location for
electronic communication, especially the Internet. It is home to
DE-CIX, the world's largest
internet exchange point. •
Mainova – The largest regional
energy supplier in Germany with about one million customers in
Hesse. It provides electricity, gas, heat and water. Its headquarters are Frankfurt-based. In addition, several
cloud and
fintech startups have their headquarters in Frankfurt.
Urban area (suburban) businesses Within Frankfurt's urban area are several important companies. The business hub of Eschborn is located right at Frankfurt's city limits in the west and attracts businesses with significantly lower
corporate taxes compared to Frankfurt. Major companies in Eschborn include
Ernst & Young,
Vodafone Germany,
Randstad NV and VR Leasing. moved most of its employees to Eschborn in 2010.
Rüsselsheim is internationally known for its
automobile manufacturer Opel, one of the biggest automobile manufacturers in Germany. With 20,000 employees in 2003, Opel was one of the five largest employers in
Hesse.
Offenbach am Main is home to the European headquarters of automobile manufacturer
Hyundai Motor Company, to the German headquarters of automobile manufacturer
Honda, to
Honeywell Germany and to
Deutscher Wetterdienst, the central scientific agency that monitors weather and
meteorological conditions over Germany. Two
DAX companies are located in
Bad Homburg vor der Höhe,
Fresenius SE & Co. KGaA and
Fresenius Medical Care. Other major companies are
Hewlett-Packard,
Bridgestone, Deutsche Leasing and Basler Versicherungen.
Kronberg im Taunus is home of the German headquarters of automobile manufacturer
Jaguar Cars as well as the German headquarters of
Accenture.
Lufthansa Systems, a subsidiary of
Lufthansa, is located in
Kelsterbach.
LSG Sky Chefs, another subsidiary of Lufthansa, is located in
Neu-Isenburg. The German headquarters of
Thomas Cook Group are based in
Oberursel.
Langen is home to
Deutsche Flugsicherung, the German
air traffic control. ==Landmarks==