Source: Paris Europlace
High-level representatives of Paris and its regions meet with leaders of UK-based international financial companies to discuss winning business scenarios in the Eurozone.
Over 80 top managers of major financial businesses attended a high-level briefing at The Shard in London yesterday, to understand and discuss how Paris and its region offer unmatched opportunities to their future Eurozone plans.
Untitled “Europe - Where To Next? Winning Business Strategies In The Eurozone”, the briefing was hosted by Gérard Mestrallet, Chairman of Paris EUROPLACE, Valérie Pécresse, President of Paris Region, Patrick Ollier, President of Greater Paris Metropolis and Jean-Louis Missika, Vice Mayor City of Paris.
All four high-ranking officials, supported by five guest speakers representing specific finance and infrastructure sectors, focused their contributions on four major areas of interest for the participants:
• Winning business scenarios for key finance industries which will be impacted by the Brexit
• Competitiveness and attractiveness of Paris, the only Global City in Europe with London
• Access to the best talents and innovation and one of the most dynamic Fintech sectors in Europe
• Altogether a vibrant and competitive ecosystem.
Paris is the only true Global City and economic Region in the European Union. It is already the first Business Center, with the presence of large international companies and their customers. It also hosts Euronext, the Pan-European stock exchange, it is the largest European bond market, with 35% of market share, ahead of London; and the 2nd largest asset management pool in the world, the double of Germany.
Valérie Pécresse stated: “At the heart of the EU, Paris Region benefits from the best communication facilities with all European cities, including London, and very high level business infrastructures. French taxation levels are now similar to those of its European competitors, and French labor laws are more business friendly than they are perceived: our job is to guarantee investors and their employees a successful, long-term business presence in France. It is very clear: for businesses wishing to be in the EU, Paris Region is the choice of stability.”
THE LEADING FINANCIAL MARKETPLACE IN EUROPE
Highlighting the findings of an in-depth research commissioned by Paris EUROPLACE to analyse the impact of Brexit on the financial industries , which demonstrates the leading position of Paris among European financial centers, Gérard Mestrallet stated: “Paris has a leading position and offers the best opportunities in the asset management industry - which is twice the size that of Germany - and also in corporate and investment banking, insurance and Fintech. Paris is also very well positioned in terms of market infrastructures in a context where the European Authorities could decide to relocate the Euro clearing and settlement infrastructures in the European Union, at least for preserving the best monetary stability.”
The commitment of all key stakeholders was demonstrated by Patrick Ollier, focused on the Grand Paris project. He stated: “France’s largest metropolitan area is launching a call for innovative urban and economic projects. For the first time, the cities of Greater Paris have come together to transfer plots of land under their control to the project leaders chosen by the jury as having proposed the most innovative projects. The first wave of this call for projects represents 59 (fifty-nine) sites for a total amount of 230.000 (two hundred thirty thousand) square meters. More than 400 (four hundred) competitors are challenging. “
TALENT, FINTECHS, COMPETITIVENESS
In addition to its considerable talent pool in the financial sector - from expert lawyers to accountants to advisers - Paris offers strong education infrastructure for finance and a highly supportive innovation environment. For Jean-Louis Missika, Vice Mayor City of Paris, France’s exponential progression in the Fintech industry represents a major attraction for the international Finance industry: “With more than 1200 Fintech enterprises in France, Paris leads continental Europe in this sector, ahead of Berlin. Our regulatory framework helps Fintech companies to obtain their license quickly; our recognized engineering schools and innovative start-up schools dedicated to coding produce a unique talent pool; and major crowd-funding platforms as well as the largest incubator in the world are in Paris, thanks to the Paris City innovation policy.”