Bank of America is planning to move more jobs to Paris

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Bank of America is planning to move more jobs to Paris

June 08, 2018 - 09:45
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Bank of America is planning to move more jobs to its new office in Paris than was planned earlier, Reuters reports. As a result, it is going to be the largest move prior to Brexit.

Photo © Billy Hathorn - Own work, CC BY-SA 3.0, via Wikimedia Commons

Bank of America is planning to move more jobs to its new office in Paris than was planned earlier, Reuters reports. As a result, it is going to be the largest move prior to Brexit.

First wave of moves will start in the beginning of next year and will involve about 400 jobs in such BofA’s sectors as markets, trading, sales and fixed income. In the beginning of November planned number of jobs to be moved was about 200 people.

At the moment, Bank is refurbishing 11000 square meters offices in French capital. It will create European trade center that will serve clients after UK leaves EU.

Most investment banks are tired of waiting for clarity in regards to their future after Brexit and taking steps to minimize interruption in work with clients.

President Macron from his side took a number of measures to attract financial jobs from London, easing labor and tax laws.

HSBC has also chosen Paris as its European base.