Paris (AFP)

After a Renault factory in Douai on Monday, Emmanuel Macron visited the new Parisian premises of the American bank JP Morgan on Tuesday to welcome the return of financial activities in France, thanks to Brexit and, according to the bank, to a more favorable climate for business.

The Head of State visited the bank's new trading room, where transactions of hundreds of billions of euros are carried out on French and European debts.

JP Morgan has decided to repatriate several hundred traders from London, because since Brexit some operations can no longer be carried out from London.

The American bank will thus increase its Parisian workforce from 265 pre-Brexit to 700 at the end of 2021 then 800 at the end of 2022, said its leaders.

The City of London remains its main center in the region with 19,000 jobs.

Overall, 3,000 new jobs will be created in finance in France by the end of 2021 compared to the pre-Brexit situation.

"Mr. President, dear Emmanuel, I met you when you were Minister of the Economy, you asked me if it would be possible to transfer part of our market activities to France as part of Brexit. Ma The response was scathing: mission impossible with a president for whom finance is the first enemy, "the president of JP Morgan France, Kyril Courboin, told him.

But, he continued, a new president has arrived, "this young banker full of passion who wanted to change France" and whose new Minister of the Economy Bruno Le Maire "told us + if you have a problem we will find a solution + ".

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Same enthusiasm with the CEO of JP Morgan, Jamie Dimon, who paid tribute to a president "coherent, solid" for the business world.

"Thank you for your trust," thanked them Emmanuel Macron.

"You put your money here, it's the best proof of love" for France, he smiled.

“3,000 financial jobs have already been relocated to France,” he said, “and this is just the start”.

He also spoke with work-study students from disadvantaged neighborhoods, supported by the JobIRL association which is supported by the bank.

The Head of State was accompanied by Bruno Le Maire and the former Governor of the Banque de France Christian Noyer, who since 2016 - appointed by Manuel Valls - has been leading a mission on the relocation of financial activities in France.

Emmanuel Macron "understands that finance is what makes the economy run", commented Jamie Dimon at the end of this visit.

His election changed things "immediately", he said, judging him "exceptional" and saying he was convinced that he will be reelected.

© 2021 AFP