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International schools in Frankfurt see Brexit bonus

Frankfurt’s international schools see a bonus from Brexit after a deluge of calls from bankers who are set to be posted to Germany’s financial centre along with their children now that Britain has decided to leave
the European Union.

The city is the most popular place for banks to set up their new EU headquarters, prompting a surge of interest in its 12 international schools which teach in English and follow baccalaureate programmes.

Paul Fochtman, head of the Frankfurt International School, said his usually quiet summer holiday was spent this year hosting planning calls three times a week to discuss Brexit.

“There’s no question a number of people are coming here,” Fochtman told Reuters on the 1,800-person campus on the edge of a hilly forest in one of Frankfurt’s affluent suburbs.

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Studies show as many as 10,000 jobs could move from London to Frankfurt over the next four years, according to Frankfurt Main Finance, a lobbying group that promotes the city as a financial hub, possibly bringing with them thousands of students.

Among banks that announced plans to relocate some of their EU operations to Frankfurt are Citigroup , JP Morgan Chase, Morgan Stanley , and Standard Chartered .

A number of Japanese banks have opted for Frankfurt  including Daiwa , Sumitomo Mitsui Financial, Mizuho Financial , and Nomura Holdings .
(Reuters)

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