France gears up to lure business from London to Paris
November 2, 2016

France is setting up a special task force of corporate leaders and politicians aimed at luring businesses and talent away from London as the UK prepares to leave the EU. The cross-party initiative is focusing on company groups at risk of losing passporting rights to operate across the bloc. Companies that chose to be based in the UK because of its EU membership will also be targeted, across the industrial, mining, energy and broader service sectors. Some banks, such as HSBC, have already warned that they could move jobs to Paris.

The team will be led by Ross McInnes, the chairman of French engine-maker Safran, who will take up the role of “ambassador” luring companies based in the UK to Paris. Paris’ financial district has released an advertising campaign promoting the attractiveness of Paris for business in the wake of the Brexit vote, with the slogan: “Tired of the fog? Try the frogs. Choose Paris La Defense”.

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