Paris says banks in UK have two choices after Brexit: Paris or Frankfurt
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
A general view shows the aerial subway and the city rooftops in Paris February 24, 2015. REUTERS/Gonzalo Fuentes
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
LONDON (Reuters) - Paris or Frankfurt are the only two real choices in the European Union for relocating financial firms from London after Britain leaves the bloc, a top French official said on Monday.
Arnaud de Bresson, chief executive of Paris Europlace, which promotes the French capital as a financial center, said that "global financial institutions" looking to move operations to the euro zone after Brexit were telling him that it was a toss up between Germany and France.
Brexit was "bad news" for Europe in global financial market competitiveness, de Bresson told a Brexit conference in London.
Paris was now working hard to make itself more attractive by cutting taxes for foreigners working in finance.
"We are very engaged now to reduce the (fiscal) difficulties," de Bresson said.
(Reporting by Huw Jones; Editing by Rachel Armstrong)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- About 40 cars in pile-up on snowy highway near Detroit
- Greek parliament approves 2017 budget projecting return to strong growth
- Kenya oil tanker accident kills at least 25 in fire: Red Cross
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!