Sumitomo Mitsui Financial Group said signed Frankfurt lease

Frankfurt Skyline

Sumitomo Mitsui Financial Group has signed a lease in Frankfurt, according to people familiar with the decision, making it one of the first foreign banks to commit to new office space in Germany’s financial capital ahead of Brexit.

Bloomberg News reports that Japan’s second-biggest lender plans to occupy one floor in the Main Tower, a 56-story building in Frankfurt’s financial district, the people said, asking not to be identified because the plans are private. Sumitomo plans to put as much as 100 people in the office, one person said.

Each floor in Main Tower has about 1,200 square meters of office space, according to the building’s website.

The bank in July announced plans to set up banking and securities units in Germany to deal with the uncertainty caused by the U.K.’s vote to leave the European Union.

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Sumitomo Said Among First Brexit Banks to Sign Frankfurt Lease

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