It is understood that Barclays’ plan to expand its Parisian office is not related to the ECB’s so-called desk-mapping review. It has also been boosted by the European Central Bank (ECB)‘s raid on the Square Mile, which ordered lenders to base staff in the EU if they are responsible for significant trading activity on the Continent after Britain left the bloc. It comes as Paris increasingly becomes a significant financial hub after Brexit, with major international banks expanding their presence in the country. Over the next few years, we wouldn’t be surprised if there were around 500 people working for Barclays in Paris.” Europe needs to develop its capital markets to reduce reliance on banks, so we have an opportunity to grow. Mr Ceccato told Bloomberg: “The need to keep hiring traders on the continent is obvious. It currently employs around 300 people in the French capital.
The British lender said it expects to increase its headcount in the French capital by about two-thirds over the next two to three years as it increasingly becomes Europe’s main trading hub.įrancesco Ceccato, chief executive of Barclays Europe, said he believes the bank could generate enough business in Paris to add about 200 more staff by 2025 to 2026.
Barclays is planning to hire 200 new workers in Paris in the latest blow to the City of London in the wake of Brexit.
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