Bankers Offer Some Tips to Make Paris a More Attractive Financial Center
The French president needs to cut labor costs and make it easier to fire some highly paid people to lure more investment firms, bankers say
A city worker in Place Vendome, the location of the JPMorgan Chase & Co. in Paris.
Photographer: Benjamin Girette/BloombergBonjour et bienvenue to the Paris Edition. I’m Paris Bureau Chief Alan Katz . If you haven’t yet, subscribe now to the Paris Edition newsletter .
At an evening event in Bloomberg’s Paris office this week, Philippe Guillot, deputy secretary general of markets regulator Autorité des marchés financiers, launched into a several-minute metaphor equating Paris and London to the mommy and daddy in a sad divorce story. The desire to give extra candy to attract the children, he warned, is an unsustainable strategy both in parenting and regulation.