In an effort to strengthen Paris’s standing as a significant hub for European finance, French Finance Minister Bruno Le Maire announced on Sunday that Morgan Stanley would establish a new office in Europe that will add 100 new jobs.
New York was named the world’s leading financial hub, followed by London, according to the widely followed Z/Yen survey of global financial centres, which was released in March. Frankfurt was rated higher than Paris as well.
However, Le Maire informed reporters that Paris’s position as a major financial centre in Europe was emphasised by the new positions from the US bank, First Abu Dhabi Bank, and Nigeria’s Zenith Bank.
Aiming to attract large corporations and foreign investors to France, President Emmanuel Macron is preparing to kick off the annual “Choose France” summit when he announces the opening of Morgan Stanley’s “European campus” in Paris.
Le Maire is scheduled to host meetings on Monday with high-ranking executives as part of this event, including Jamie Dimon, the CEO of JP Morgan, David Solomon, the CEO of Goldman Sachs, Ted Pick, the CEO of Morgan Stanley, and Brian Moynihan, the CEO of Bank of America. Le Maire is also scheduled to meet with the French CEO of ASML, a Dutch semiconductor chip manufacturer.
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