HSBC set to move 1000 jobs to Paris over Brexit

JP Morgan Standard Chartered Citigroup UBS and Goldman Sachs are all considering moving staff from London, naming Frankfurt and Dublin as preferred options

They are attending the Paris Europlace forum where Prime Minister Edouard Philippe will give the keynote speech.

Eager to attract banking jobs leaving London, Philippe has pledged to reduce the cost of employing financial services staff in France and also committed to keeping the regulatory burden on finance companies competitive.

Addressing the conference in English, before switching to French, Philippe said: "We want Paris to become Europe's new number one financial hub after Brexit".

A "hard Brexit" would likely see the United Kingdom give up full access to the European Union's single market and customs union in order to give Britain full control of its borders.

Philippe recently announced a new package of tax reforms, which includes a cut for high-earning finance professionals.

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"I think this government has made an enormous leeway, we are here to listen to them", Dimon said.

France's Societe Generale could move 400 corporate and investment banking jobs from London as part of its Brexit plans, with majority going to Paris, Chief Executive Frederic Oudea said.

French bank Societe Generale (SOGN.PA) has filed its Brexit contingency plans with the Bank of England ahead of a July 14 deadline for banks operating in the country, a SocGen executive told Reuters.

"There is about 1,000 jobs out of 43,000 that are employed in the United Kingdom that will be unlawful for our activities to be carried out of the United Kingdom, if it's hard Brexit", said Gulliver, speaking during a conference in Paris. JP Morgan has stated a preference for Frankfurt, Luxembourg and Dublin.

His predecessor Francois Hollande had previously described finance as "the enemy".

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