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Brexit to create 3,500 finance jobs in Paris: Industry group

AFP  |  Paris 

Britain's moves towards exiting the are already expected to create some 3,500 and jobs in as leading players in the sector move their operations out of London, an group said today.

The figure "is much higher than the direct job transfers to other European financial capitals," Gerard Mestrallet, of the group Europlace, said at the opening of the group's annual conference.

The US and the are among the companies planning to move some activities to Paris, according to British

On top of an estimated 3,500 jobs seen as likely so far, the transfers could generate an additional 20,000 indirect jobs in the French capital, said Mestrallet.

He attributed the shifts to to and other measures taken by Emmanuel Macron, a former who is pushing to make more attractive to foreign investors.

"We've made more progress in the past two years in Paris than over the previous 13 years," he said, citing in particular the end of a wealth tax on financial assets and a new flat tax on capital income, including dividends and interest payouts.

has long been Europe's top financial centre, and analysts have predicted a wave of job transfers to the continent by and companies as Britain prepares to leave the union in March 2019.

Leading companies in other sectors have also warned they might move operations out of the country, including Airbus, and Paris has several rivals for the post-Brexit business, including Frankfurt, and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 18:30 IST
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