New York (AFP)
The American bank JPMorgan Chase, which has been preparing for two years to transfer part of its London team following Brexit, announced Sunday the purchase of a second building in the heart of Paris which will be able to accommodate up to 450 people.
These would be added to the 260 collaborators already installed in the French capital, specifies the financial establishment in a press release.
"After numerous government reforms and given the intrinsic quality of Parisian infrastructure, this is the ideal time to invest here and for our staff to settle in greater numbers," commented Kyril Courboin, CEO of the American bank in France, cited in the press release.
The operation "will give the bank the opportunity to continue its growth in France, in accordance with its strategy of continuing to serve European customers in a fluid manner from the main cities of the continent, notably Frankfurt, Luxembourg and Dublin", specifies the establishment .
The big boss of JPMorgan, Jamie Dimon, had indicated at the beginning of 2019 that the bank planned to transfer "several hundreds" of employees from London to the Continent because of Brexit.
While the United Kingdom's exit from the European Union must be effective at the end of the month, paving the way for a transition period until the end of 2020, the Place de Paris would have already benefited from the relocation of some 4,000 jobs direct in the finance sector, affirmed at the beginning of January Paris Europlace, the organ of promotion of the Parisian financial place.
Bank of America opened a new French subsidiary in February 2019, which now employs around 400 people, the majority of whom previously worked in London.
The building chosen by JPMorgan in Paris is located place du Marché Saint-Honoré. It communicates with the current head office, located in Place Vendôme, and could possibly host trading room activities once renovation work is completed, normally at the end of 2020.
© 2020 AFP