There is just so much of financial history here.
Earlier talks of financial centre moving from London were dismissed. But now talks seem to be picking up pace and steam.
Paris is meeting London based bankers to shift base to French capital:
Paris could lure as many as 20,000 workers from Britain’s finance industry with the exodus potentially starting within weeks as the U.K. begins its withdrawal from the European Union, according to Europlace, the French capital’s lobby group.
Paris will make its case to London-based executives in a series of February meetings as it competes for talent with rival cities such as Frankfurt. Europlace’s marketing materials show it will extol how Paris already employs more than 180,000 financiers, is home to the region’s biggest bond market and boasts the second-largest pool of asset managers.
The continental race to take advantage of Brexit is heating up as British Prime Minister Theresa May plans to trigger the start of negotiations by the end of March. Global bank chiefs have warned May that they will soon start shifting operations and jobs from the U.K. to elsewhere in the EU unless she can protect their easy access to its market.
For a very long time France has been jealous of England’s awe-inspiring financial strength and sector. England has barely cared and continued to grow in strength.
But then came Brexit moment in 2016. Who would have thought that England will end up creating an entry for France by itself?
These historical and geographic forces are perhaps what matter the most in understanding finance. But we are just so ignorant about them and are barely taught anywhere in the world.