Paris Emerges as Major European Financial Hub with New Investments

France has announced that Morgan Stanley will establish a new European headquarters in Paris, creating 100 additional jobs. This news follows the announcements made by German aviation company Lilium and Swiss-based firm KL1, who will each invest €400 million and €300 million respectively in a factory and nickel refining site in France. These investments could potentially result in over 1,000 new jobs being created. The announcements were made during preparations for the annual ‘Choose France’ event, hosted by President Emmanuel Macron, aimed at attracting foreign investment into the country. Finance Minister Bruno Le Maire stated that these investments demonstrate the growing attraction of Paris as a major European financial hub, particularly following the UK’s departure from the EU. Le Maire also called for further action at the upcoming European Union meeting in Brussels to promote a capital markets union, in order to facilitate investment in emerging sectors such as renewable energy and artificial intelligence. Other notable attendees at the event include the CEOs of JP Morgan, Goldman Sachs, Morgan Stanley, and Bank of America.