Lobbying group the French Asset Management Association (AFG) is in talks with 30-50 asset managers that are considering setting up new offices in Paris to retain access to the European Union after Brexit, according to Jean-Louis Laurens, international ambassador for AFG. markets watchdog said on May 31 it had asked asset managers and investment firms to spell out how Brexit would affect their ability to continue serving EU customers and whether they needed to move to the bloc. Laurens said companies in London may have to relocate 5,000-10,000 to Europe after the UK leaves the 28-nation bloc, and that the French regulator discussed the matter with 53 London-based senior executives from US and UK asset managers in a recent meeting.
Lobbying group the French Asset Management Association (AFG) is in talks with 30-50 asset managers that are considering setting up new offices in Paris to retain access to the European Union after Brexit, according to Jean-Louis Laurens, international ambassador for AFG. Laurens said companies in London may have to relocate 5,000-10,000 to Europe after the UK leaves the 28-nation bloc, and that the French regulator discussed the matter with 53 London-based senior executives from US and UK asset managers in a recent meeting.