I have no idea - perhaps there is a shortage of bankers in Germany because of banks moving there?

I mean that can attract people from all over Europe to take these positions. It's likely a question of money.

And Frankfurt is not as attractive a place to live as London or Paris.

As a French guy still living in France, I don't find Paris to be attractive at all.

It is a dirty city, housing is expensive and generally in a poor state, and there a lot of security issues and social unrest: burglaries, violent protests (almost every week), periodic riots in some suburbs and terrorist attacks. To the point that more and more in the media, you hear about an upcoming civil war. Add that all the famous France's plagues: strikes, bureaucracy, very high income taxes for people earning more than 2000/m Euros and more recently communities living more and more separately.

There is no social unrest in Germany, Frankfurt is much safer and Germany more reliable.

Frankfurt is a lovely place to live... I was surprised how cheap it was (compared to nyc and such). While not a world class city like NYC/London, it has a lot to offer, and it is on par with cities like Boston/Seatle/SF/W.DC/Lyon/Zurich etc...

It is a solid 'upper middle' tier city, where everything is clean and neat.

And you can be in the center of of Amsterdam, Berlin, or Paris within 4 hours by train.

This. And from what I’ve heard this is often less about the banker asked to relocate themselves but their families. London is just far more attractive as a place for foreigners to relocate to than Frankfurt is.

It’s one of the downsides of Germany’s less centralized economy. While not the same status as London, Munich or Berlin would likely be more attractive destinations for their families.

Ha!? Paris is attractive only for a handful of ultra-rich or if you are a two days tourist (and even then). On the other hand, I found Frankfurt to be quite affordable and calm.

What daily attractions does Paris have? Sure there is the Louvre but I didn't visit that as a tourist (no way I'm standing on these lines); so I don't think I'll be seeing it everyday to work.

I dunno, I would trade london for just one more meal at konamon or muku ;)

Getting reservations at Muku was never easy but always worth it

If everyone suddenly has great need of them while demand for British bankers collapses, then yes.