Europe's financial hubs on 'catwalk' for Brexit spoils

Frankfurt

EUROPEAN financial centres made competing pitches on Monday for financial jobs that flow out of London in the aftermath of the UK's vote to leave the European Union (EU).

Thomas Schaefer, finance minister for Frankfurt's home state of Hesse, said at a conference in the German financial capital that state Premier Volker Bouffier is in New York to discuss with major US banks how they can retain access to the EU market. Luxembourg Finance Minister Pierre Gramegna told the same conference that while London will remain an important financial centre for a while, his country could become a "second pillar" for institutions.