Paris enjoys Brexit bonus with estimated 4,735 extra finance jobs
10/12/2020 09:00
PARIS, Dec 10 (Reuters) - Brexit has lead to 4,735 financial
sector jobs shifting to France since Britain voted to leave the
European Union in 2016, French lobby group Paris Europlace
estimates.
European capitals have been jostling to attract business
from London in the wake of the Brexit referendum, especially
among banks, asset managers and other financial services firms.
Paris Europlace said the jobs came from teams relocating to
France or investment decisions favouring the country and linked
to Brexit. It listed JPMorgan and Japan's Nomura among those
that had shifted teams, but also French banks BNP Paribas and
Societe Generale, which have big operations in Britain.
Overall, and including companies outside finance and in
sectors such as healthcare or carmakers, Paris Europlace
estimated the Brexit boost for French jobs at 9,516.
Estimates of lost business for Britain vary. Consultants EY
said in October that more than 7,500 finance jobs, as well as a
trillion pounds in assets, had already left for the EU.
The number of jobs is still a fraction of those based in
London, however, and far fewer have moved so far compared to
initial estimates just after the Brexit vote, with some
forecasting tens of thousands would cross the English Channel.
(Reporting by Sarah White;
Editing by Alexander Smith)
((sarah.white1@thomsonreuters.com; + 33 (0) 1 49 49 56 85;))