BlackRock Gets Permission to Establish a New Investment Firm In France

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BlackRock, the world’s largest asset management company, received regulators permission to establish a new investment firm in France. This is another demonstration of the increased interest from Paris to financial firms after the UK’s withdrawal from the EU.

The President of France, Emmanuel Macron is looking for the ways to strengthen the country’s economy through reforms such as tax cuts and the relaxation of labour laws hoping to attract companies from the UK after Brexit. However, London and New York still remain the first positions in the list of the world’s largest financial centres.