Economics

High Banker Pay Is One Hindrance for Frankfurt’s Tech Startups

Frankfurt only has 11 fintech firms, lagging behind a number of other German cities
Photographer: Krisztian Bocsi/Bloomberg

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By Shane Strowmatt

August 9, 2015 at 10:01 PM UTC

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FinTech Group AG Chief Executive Officer Frank Niehage is moving the German online broker’s headquarters to Frankfurt from rural Bavaria to be closer to key customers and access a better qualified labor market.

While the CEO has been pleased with the wealth of financial knowledge in the home of the European Central Bank and Deutsche Bank AG, he finds the city is still a long way from fostering the creative environment startups crave.