Photo: DPAOne year on from Britain's vote to leave the European Union, determined lobbying and political leverage have helped German financial capital Frankfurt grab pole position in the race for bank business quitting London. Once Brexit is finalized, financial firms could lose so-called "passporting" rules that allow them to sell financial services across the EU from London - prompting many to look to the remaining 27 states for a new base. SEE ALSO: Property firms expect Frankfurt to win big on BrexitTheir efforts have been crowned with success. "Frankfurt's chances of profiting from Brexit have significantly increased in the past few months," said Michael Kemmer, general manager of the Association of German Banks (BDB). The Hesse regional government will submit its bid for Frankfurt to the European Commission this month.

Source: The Local July 03, 2017 14:03 UTC