Paris is the most popular location for those financial service providers who are planning to resettle their EU market activities from London to the continent due to the abolition of UK membership (Brexit). The Financial Times in London, referring to the well-known sources of banking thinking in this regard, wrote today that JP Morgan Chase, BlackRock, Bank of America and Citigroup are among the largest in the process of resettlement in Paris, garrison ".
According to the source, 70 London-based management companies have begun to acquire a license for Paris. The largest of them was BlackRock, which invested $ 6,300 billion in investor capital, and is considering acquiring Paris as the center of its entire European company.
The Bank of America accelerated its preparations for the Brexit in the summer and announced the creation of a new trading platform in Paris with a thousand jobs. According to Financial Times, JP Morgan Chase is "increasingly attracted" to Paris.
Christian Noyer, former governor of the French central bank, who, according to the Financial Times, is the manager of the Paris Smile Offensive, said the paper: banks and fund managers try to focus their European trading activities on a single EU site . Noyer says that this does not mean that in the future London will not be the largest financial services center, but Paris can become the main hub of financial services in continental Europe.
The EC's global financial consulting firm, which measures the Brexit vote of City's financial services companies on a monthly basis, has shown in its Financial Services Brexit Tracker (September) that 35 percent of the 222 London companies handling the company – 77 companies in the survey investigation migration or relocation of certain activity domains and / or jobs.
According to the EC, the share of city-based financial companies working on such plans has increased by 5 percentage points year-on-year.
According to the company survey, the number of companies that have selected at least one European resettlement site has already increased: in the September survey, 25 percent of the 222 financial service providers – 56 – named a new location outside of London. At the end of last year, 19 percent (42 companies) said in the same company that they had already chosen a city on the continent where they moved their jobs or jobs from London.
Companies that responded to the EC question asked Dublin, Frankfurt, Luxembourg, Paris, Madrid and Milan to become a new location for activities that had to be relocated from London.
According to the latest global investor survey, market participants are now the number one financial services center in the world, now having New York and leading the London ranking in the coming years, with a minimal difference, although it is in second place.
One of the largest financial advisory groups of London, the Global Financial Centers Index (GFCI), published in the autumn edition of the Global Financial Centers Index (GFCI), London 786, New York received 788 points of the thousands of points earned by Z / Yen Group .
In the previous global ranking in March, the first ranked London 794, New York scored 793 points.
The Z / Yen experts emphasized in their analysis of the new compilation that, because of the uncertainties that the Brexit process entailed, the participants in the London Investor survey had less confidence in the future role of London as a financial center than respondents from elsewhere about the future of their role as financial services provider. Usually the back of the house is usually used, which means that the interviewed market players usually assess the status of their own activity base better than other financial centers.
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