FRANKFURT- A steady increase in banking jobs in the German financial capital of Frankfurt has likely come to an end because of the coronavirus pandemic, according to a study by German lender Helaba on Wednesday.
Financial jobs in the city have generally been on the rise since 2014 amid greater demand for staff overseeing compliance and regulation at banks, and as Britain's withdrawal from the European Union lured jobs from London.
Helaba had expected this upward trend to continue through the end of 2021, but now, as a result of the pandemic, Helaba economists expect the city's bank jobs will now begin to contract.
Helaba expects that by the end of 2022 Frankfurt will have around 62,700 bank employees, down around 2,000 people, or 3%, from the crisis' outbreak earlier this year.
Frankfurt is home to Deutsche Bank, Commerzbank, the European Central Bank, as well as the European headquarters for scores of non-German banks.
Frankfurt has been dubbed Bankfurt or Mainhattan, after the river Main that the city straddles.
(Reporting by Hans Seidenstuecker and Tom Sims Editing by Edward Taylor) ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))
