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Paris says banks in UK have two choices after Brexit: Paris or Frankfurt

LONDON (Reuters) - Paris or Frankfurt are the only two real choices in the European Union for relocating financial firms from London after Britain leaves the bloc, a top French official said on Monday.

Arnaud de Bresson, chief executive of Paris Europlace, which promotes the French capital as a financial center, said that "global financial institutions" looking to move operations to the euro zone after Brexit were telling him that it was a toss up between Germany and France.

Brexit was "bad news" for Europe in global financial market competitiveness, de Bresson told a Brexit conference in London.

Paris was now working hard to make itself more attractive by cutting taxes for foreigners working in finance.

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"We are very engaged now to reduce the (fiscal) difficulties," de Bresson said.

(Reporting by Huw Jones; Editing by Rachel Armstrong)

 
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