Frankfurt cashes in

Frankfurt is emerging as the biggest winner from last year’s Brexit vote, with many of the world’s biggest banks choosing to base their EU headquarters in the German city. Standard Chartered, Nomura and Daiwa Securities Group have picked Germany’s financial capital for their EU base to ensure continued access to the single market. Citigroup, Goldman Sachs and Morgan Stanley are weighing a similar decision, said people familiar with the matter, asking not to be named because the plans aren’t public.