The financial center Frankfurt am Main is getting a new addition: Westpac Bank has opened its European subsidiary office in Frankfurt am Main. In the future, Westpac Europe GmbH will be able to manage European customers from here. The bank was supported in its relocation by FrankfurtRheinMain GmbH International Marketing of the Region (FRM GmbH) in close coordination with Frankfurt Economic Development GmbH.
Mike Josef, Lord Mayor of the City of Frankfurt am Main and Chairman of the Supervisory Board of FRM GmbH: "With Westpac Bank, Australia's oldest bank is coming to Frankfurt am Main. This is clear evidence of the strength of our financial center, which ranks among the top 20 worldwide. Frankfurt offers an excellent infrastructure by international standards, and there is a high concentration of companies in the financial sector here. A strong banking sector, by far the largest German stock exchange, the international orientation of our city and European supervisory authorities such as the European Central Bank (ECB), make Frankfurt a "must" as a location for international banks and financial institutions."
Today's Westpac Bank was founded in 1817 as the Bank of New South Wales (BNSW) in Sydney, Australia. In the 19th and early 20th centuries, BNSW opened branches in Australia and Oceania and merged with the Commercial Bank of Australia in October 1982 to form Westpac Banking Corporation. The bank is not only the oldest and first financial institution in the country, but the first Australian company ever. Today, Westpac Bank is one of Australia's four major banking organizations and one of the largest banks in New Zealand. Westpac says it offers a wide range of banking and financial services - including banking services for consumers, businesses and institutions, and wealth management. The bank serves more than 13.9 million customers.
"Westpac Europe GmbH caters to the financial needs of businesses, institutions and government agencies with a nexus to Australia and New Zealand," said Andrew Bowen, managing director Westpac Europe GmbH. "Frankfurt offers the best conditions for Westpac's growth plans in the European Union."
Eric Menges, President and CEO of FrankfurtRheinMain GmbH International Marketing of the Region: "Australia is increasingly becoming the focus of our activities. Several Australian states are opening official representative offices in Frankfurt. With Westpac Bank, another Australian bank is coming to Frankfurt. Due to the English language competence in the region, Frankfurt RheinMain is an ideal platform also for Australian companies that have their sights set on the German and European markets. And Westpac Bank plays an important role in this."
FRM GmbH accompanied the first steps of the Westpac Europe GmbH subsidiary. The international location team of the regional location marketing supported Westpac in cooperation with the business development of the city of Frankfurt in establishing contacts with business networks and positioned Frankfurt in competition with other locations in Europe.