The Center for Financial Studies (CFS) (Gesellschaft für Kapitalmarktforschung), located in

Frankfurt am Main Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on its na ...

, is an independent research institute affiliated to the

Goethe University Frankfurt Goethe University (german: link=no, Johann Wolfgang Goethe-Universität Frankfurt am Main) is a university located in Frankfurt am Main, Germany. It was founded in 1914 as a citizens' university, which means it was founded and funded by the wealt ...

. CFS conducts independent and internationally oriented research on important topics in finance. It serves as a forum for dialogue between academia, policy makers and the financial industry. It also provides a platform for high-level basic as well as applied research of relevance to the European financial sector. Its president is

Axel A. Weber Axel Alfred Weber (born 8 March 1957) is a German economist, professor, and banker. He is currently a board member and chairman of Swiss investment bank and financial services company, UBS Group AG, and has announced his resignation effective 7 ...

, former President of Deutsche Bundesbank and former Chairman of the board of UBS Group AG.

Otmar Issing Otmar Issing (born 27 March 1936 in Würzburg) is a German economist who served as a member of the Executive Board of the European Central Bank from 1998 to 2006 and concurrently as ECB chief economist. He developed the 'two-pillar' approach to m ...

is Honorary President. Directors are Andreas Hackethal and Rainer Klump. The managing director is Volker Brühl. The institute's sponsoring association is chaired by Jürgen Fitschen, former co-head of Deutsche Bank AG.

Research

CFS’ research program consists of research areas that are each managed by the directors. Guest researchers and fellows visit the institute regularly and collaborate on research projects with the academic staff at the CFS.

Dialogue

The CFS aims to promote the dialogue between academia and the financial community by regularly organizing conferences, colloquia, academic forum discussions and specialist presentations on finance-related issues. It also participates in international research networks.

CFS Index

Since 2007, the Center for Financial Studies has carried out a quarterly survey amongst leading executives in the German financial community. The purpose is to aggregate their evaluations and expectations in order to reflect the current business sentiment. In addition, special surveys on topical issues are held. The CFS Index has emerged from a cooperation of academics, business and politics.

History

In 1964 on the occasion of the 50th anniversary of the

, some

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s, in particular private bankers and the

Frankfurt Stock Exchange The Frankfurt Stock Exchange (german: link=no, Börse Frankfurt, former German name – FWB) is the world's 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Locate ...

, set up a fund for establishing a research institute. 1967 the institute was founded under the name Institut für Kapitalmarktforschung (IFK). The institute is, still today, financed by the Gesellschaft für Kapitalmarktforschung e.V. (GfK) which was founded in the same year. Among the more than 80 members of GfK are banks, insurances, consultancy companies and industrial enterprises. The institute was the first research institute in Germany dedicated solely to capital market issues. 1996 the institute was given the additional name Center for Financial Studies to reflect the increasingly international orientation of its research activities. Since 2001 this has become its sole name. In 2005 the CFS in cooperation with

for the first time awarded "The Deutsche Bank Prize in Financial Economics" to an internationally renowned researcher. Between 2006 and June 2022 the former chief economist of the

European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important central b ...

, was president of the CFS. The current president is

, former President of the Deutsche Bundesbank, and former chairman of the board of UBS AG.

References

External links

official website
* CFS Ind

website House of Finance
{{authority control Goethe University Frankfurt Education in Frankfurt