Predictably, Hong Kong is also in the running as a relocation option.Ī spokesperson for HSBC declined to comment on Kleinman's claims, except to say that HSBC reviews the location of its HQ every few years and this was just, "market tittle tattle. Kleinman said Gulliver's plans are contingent on UK policy changes such as an enforced separation of retail and wholesale banks. In reality, however, HSBC's investment bankers will probably have no need of moving to Paris soon. June 28 six months, William Edward Newton, of Chancery - lane, civil. HSBC has been widely identified as one of the banks likely to be hardest hit. An interesting paper was read at a late meeting of the Paris Academy of. In 28 Weeks later the infected have all died out. Proportionately, the UK's levy, at $3.8bn, looks far more harsh: the market capitalisation of the three biggest French banks is $128bn in the UK it's $275bn, but the levy is three times higher. The UK was quarantined in time to contain the virus. Personal taxes aside, as of last week, Paris also looks fairly attractive from the banking-levy perspective.Ĭhristine Lagarde has said that she expects a French banking levy to raise between $360m and $1.2bn. "The reforms and developments that Paris are introducing, particularly around corporate bond markets, are an important issue for international banks."Īs we noted a while ago, people earning 250k are now better off (after tax) in Paris and Frankfurt than in London. "We have very regular contact with HSBC," says Bresson. He says there's also the strong regulatory environment, and tax breaks for ex-pats. What might be encouraging Gulliver to peruse Paris (of all places)?Īrnaud De Bresson, managing director of Paris Europlace, an organisation which promotes Paris as a financial centre, points to recent initiatives to push the city as a centre for bond trading. The scene definitely felt like it was setting up a potential sequel. Exactly 20 years after the original film revolutionised the horror zombie genre, Cillian Murphy, director Danny Boyle and writer Alex Garland are considering a sequel titled 28 Months Later. From June to August the weather in Paris is. Both summer and fall have its ups and downs. HSBC employs around 21,000 people in its investment bank globally. At the end of 28 Weeks Later, we saw the zombie virus known as the Rage virus make its way to Paris. The best time to visit Paris is from June to August and September to October. If true, this should be more than sufficient to encourage happy delirium in La Defense, where Nicholas Sarkozy has had a policy of promoting Paris as a financial centre for a while. Specifically, Kleinman said Gulliver has been, "examining a proposal for a separately capitalised French subsidiary that could house global banking and markets activities." One of the less noticed news items over the weekend involved the UK-based financial services monolith that is HSBC.Īccording to Mark Kleinman of the Financial Times, Stuart Gulliver, head of investment banking at HSBC, has been looking at the possibility of moving his bit of the business to Paris.
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