Asset Management: Boosting the Competitiveness of the Paris Financial Centre

  • In an effort to re-energise the French asset management industry, Eric Pinon, Chairman of the French Asset Management Association, AFG (Association française de la gestion financière), invited Jean-Pierre Grimaud, CEO of OFI Asset Management and a member of the AFG’s Strategic Committee, to draft a white paper on competitiveness aimed at generating clear, concrete and ambitious proposals.
  • This white paper was presented on 9 July 2019 at the Paris Europlace International Financial Forum. Jean-Pierre Grimaud, Stéphane Janin (Head of Global Regulatory Development, AXA IM) and Eric Sidot (Head of Market Infrastructures, AFG) presented the proposals resulting from this work at a
    special session on “French Competitiveness, Paris, the Place to Be!
  • Drawing on earlier proposals made in the FROG Report and the 2016 white paper on the competitiveness of the Paris financial centre, the white paper recommends 40 measures broken down into four main areas:
    • Support innovation to ensure that France becomes the leader in the management of digital assets;
    • Modernise market infrastructures to ensure that the ecosystem in which asset management companies operate is more dynamic and inventive;
    • Review the legal and regulatory framework at national, European and international levels;
    • Reform the current fiscal and accounting framework in order to follow up on initiatives already undertaken to boost France’s attractiveness.
  • The AFG wants to kick-start the Paris financial centre and points out that seven of these 40 proposals could be implemented very quickly.
  • Download the press release.
  • Download the white paper “Asset Management: Boosting the Competitiveness of the Paris Financial Centre” (in french only)