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Morgan Stanley to create 100 new jobs in Paris
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Morgan Stanley to create 100 new jobs in Paris
May 11, 2024 10:34 PM

PARIS, May 12 (Reuters) - Morgan Stanley ( MS ) will

open a new European office in Paris that will create 100 more

jobs, French Finance Minister Bruno Le Maire said on Sunday, as

Paris aims to burnish its credentials as a major European

finance centre.

The closely watched Z/Yen survey of global financial

centres, published in March, put New York as the world's top

financial hub with London in second place. It also ranked

Frankfurt above Paris.

But Le Maire told reporters that the new jobs from the U.S.

bank, and from First Abu Dhabi Bank and Nigeria's

Zenith Bank highlighted Paris' role as a leading

financial hub within Europe.

Morgan Stanley ( MS ) had said last year that it planned to

increase its overall Paris headcount to 500 by 2025. First Abu

Dhabi Bank already has an office in Paris while Zenith Bank had

previously signed a deal with France to set up a subsidiary in

the country this year.

"The fact that we now have the United Arab Emirates and

Nigeria, which are putting their financial institutions in

Paris, is an excellent sign in terms of the financial

attractions of Paris and our capacity to be the biggest

financial centre in Europe," Le Maire said.

The announcement of Morgan Stanley's ( MS ) "European campus" in

Paris comes as President Emmanuel Macron prepares to launch the

annual 'Choose France' summit, designed to woo big businesses

and foreign investors to France.

As part of this event, Le Maire is due to host meetings on

Monday with top executives including JP Morgan CEO Jamie

Dimon, Goldman Sachs ( GS ) CEO David Solomon, Morgan Stanley ( MS )

CEO Ted Pick and Bank of America ( BAC ) CEO Brian Moynihan.

Le Maire is also due to meet Christophe Fouquet, the French

head of Dutch semiconductor chipmaker ASML.

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