BERLIN (Reuters) – The United Kingdom’s decision to leave the European Union increased the number of the local financial sector workers to seek employment in the growing financial technology industry in Berlin, said several of the startups of the city told Reuters.
The capital of Germany is struggling to position itself as the center of the financial technology industry and home to 70 companies, more than double the number in Frankfurt, the traditional financial center of the country.
Employers say it is easier to attract executives to Berlin than to get companies to change to Frankfurt with potential talent attracted by affordable cost of living, less travel time and the widespread use of English.
“We had over 50 senior candidates in London in the last six weeks,” said co-founder and managing partner of financial technology company FinLeap, Ramin Niroumand.
About 70 percent these candidates had a background in financial services, told FinLeap, adding that invited 20 for an interview to date and offered jobs to five of them.
Berlin had a workforce in the financial sector 13 000 people in 2015, a fifth of the sector size in the UK, which employs 61,000 people, according to Ernst & amp; Young.
(By Caroline Copley)
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