"Frankfurt is not only a banking city but also a city of science." On 11 December 2019, with these words, Prof Dr. Nils Stieglitz, President of Frankfurt School of Finance & Management, opened the Frankfurt Stock Exchange Breakfast. In his keynote speech to more than 100 guests from the banking and finance industry, he discussed the importance of universities to the Frankfurt Financial Hub.
A total of 68,000 students study at various universities in Frankfurt, such as Goethe University or Frankfurt School. However, universities should not only be seen as knowledge providers who train young people for the job market and its new challenges, such as digital transformation, blockchain technology or artificial intelligence. "Universities are also nodes of valuable networks between students, alumni and companies as well as partners for lifelong learning and for career advancement," said the President of Frankfurt School.
In rankings of global financial centres, many cities such as London, New York and Hong Kong are ahead of Frankfurt. In order for Frankfurt to continue to hold its own, it needs not only large banks and good infrastructure but also universities. "Universities with their diverse tasks contribute – especially in times of fake news – to an objective and scientifically sound dialogue in society," said Nils Stieglitz. "Universities are invaluable because they are the driving force behind innovation and business start-ups.“
In addition, universities are sparring partners for banks, financial institutions and companies. Together, even more initiatives and projects could emerge to increase the visibility of Frankfurt and the players in the financial centre. As a successful example, Professor Stieglitz referred to the study Zum Rätsel der Aktienmarktteil der Deutschen, recently presented by scientists from Frankfurt School and Goethe University in cooperation with Deutsche Börse AG. Frankfurt School also works closely with Deutsche Börse AG on the Green and Sustainable Finance Cluster Germany.