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在线翻译:
szdaily -> World Economy
Frankfurt’s international schools see bonus from Brexit
    2017-August-24  08:53    Shenzhen Daily

FRANKFURT’S international schools see a bonus from Brexit after a deluge of calls from bankers who are set to be posted to Germany’s financial center along with their children now that Britain has decided to leave the European Union (EU).

The city is the most popular place for banks to set up their new EU headquarters, prompting a surge of interest in its 12 international schools which teach in English and follow baccalaureate programs.

Paul Fochtman, head of the Frankfurt International School, said his usually quiet summer holiday was spent this year hosting planning calls three times a week to discuss Brexit.

“There’s no question a number of people are coming here,” Fochtman said on the 1,800-person campus on the edge of a hilly forest in one of Frankfurt’s affluent suburbs.

Studies show as many as 10,000 jobs could move from London to Frankfurt over the next four years, according to Frankfurt Main Finance, a lobbying group that promotes the city as a financial hub, possibly bringing with them thousands of students.

Among banks that announced plans to relocate some of their EU operations to Frankfurt are Citigroup, JPMorgan Chase, Morgan Stanley and Standard Chartered. A number of Japanese banks have opted for Frankfurt including Daiwa, Sumitomo Mitsui Financial, Mizuho Financial and Nomura Holdings.

Although schools are keen on new business, they are cautious about the uncertainty surrounding Brexit, wary the influx of bankers could be lower than some lobby groups estimated or that some may commute while their children stay in London.

Even though Brexit only becomes official in March 2019, schools are proving to be an early indicator of future moves given the importance that parents put on a child’s education, which is often paid for by the employer.

“School is often the No. 1 barrier to a move for families,” said Fochtman, whose school is losing 50 pupils after General Motors reduced its workforce in Frankfurt following a takeover of its Opel unit by PSA Group.

Frankfurt’s Strothoff International School said it was looking to buy land to build a new campus which would double its student body.

Paris and Dublin in their pitches to attract bankers leaving London also committed to providing new schools for bankers’ children.

In December, about six months after the Brexit vote, Eric Menges, chief executive officer of FrankfurtRheinMain, another group that markets the city, asked school officials to examine how Brexit would affect the education sector.

“Within 30 minutes of the banking district, there are 30 bilingual schools, 12 of which offer the classic international school degree,” Menges said. Educators estimate about 10,000 international and bilingual students are currently enrolled.

Schools said they will need financial guarantees for any significant expansion. (SD-Agencies)

 

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