Daily Management Review

Credit Agricole to relocate its European bond trading operations to Paris from London


09/25/2017


Financial institutions, including banks, are moving out from London in the wake of Brexit.



On Monday, a spokeswoman for Credit Agricole has disclosed that it will be moving its European government bonds trading platform to Paris from London in September 2017.

To achieve critical mass, Credit Agricole CIB has decided to concentrate its euro flow rates market making capabilities in Paris,” said Credit Agricole’s spokeswoman.

She went on to add, “Therefore the European government bonds trading platform currently based in London will be relocated, as of September 2017, to Credit Agricole CIB in Paris where it will be positioned at the heart of our euro swaps, repo and inflation focused activities”.

Bankers in France have pledged to create 1,000 jobs in Paris as part of a plan to help shift London-based operations out of the UK once Britain leaves the EU, the world’s largest single bloc, on March 2019.

Banks which are moving out of London, due to Brexit, are selecting Frankfurt, Dublin and Paris for their European operations. The French government is making heightened efforts to attract more London banks to its shores.


 


 

Source:

http://uk.reuters.com








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