Bonjour Paris – visiting our Eurex colleagues on the Seine
Almost 30 million visitors per year make Paris, city of love and lights, the most visited place in the world. With 2.1 million inhabitants in the city center and 11.5 million residents in the metropolitan area, Paris is one of the mega-cities in Europe. Being the economical, political and cultural center of France it is also of great interest for the European Community. And even if it may seem as if Frankfurt am Main is the most influential financial center in Europe, with its international stock market and the European Central Bank, Paris it cannot get past …
Due to its strengths Paris is the financial center no. 1 in the euro zone:
- with EUR 1.500 billion of assets managed of it is top in investment management and, all managed assets in France considered (EUR 2.600 billion) also in financial assets
- it has a strong network of financial and investment banks with several excellence clusters: 26 per cent market share in equity derivatives; 25 per cent market share in complex structured products, a leading position in asset management (four of the 20 worldwide most important managers are located in France) and in late trading (three of 10 market leaders in safekeeping and administration in financial products are from France).
- together with the transatlantic exchange NYSE Euronext, it is related to volumes handled (EUR 2000 bn.) and market capitalization just behind London the second most important market place in Europe.
- it is market leader in the corporate bonds segment. Close to 35% of the emissions in the euro zone take place here and 40% of all loans granted are managed here.
Interview with Paul Beck, Head of Representative Office France, about working for Eurex in Paris
Mr. Beck, tell us about the office in Paris, how many people work there?
There are a total of 7 people working for DBAG in Paris. The office is in fact a Deutsche B?rse Group Representative office, meaning that we cover the major markets for the group (Eurex, Eurex Clearing, Eurex Repo and Xetra). In addition to the French market, we cover clients in Belgium and Luxembourg.
Are there special challenges that a German company faces in France?
We are the link between our clients and the headquarters in Germany and it is quite natural to have some cultural differences between the two countries. That is one of the reasons to have people on the ground. In general though, Germany and German companies have a very good reputation in France.
How do you see Paris’ future as an international financial center?
Paris has always been and will continue to be one of the major European financial centers. It has some very strong global banks and investment management firms. France also has some internationally renowned business and engineering schools and a there are a large number of French traders active in financial centers worldwide.
What do you like best about living and working in Paris?
I always like to say that there are worse places on earth to live than Paris. The city is a living museum with its numerous world-famous buildings. One thing which stands out for me is the food. It is not just the many great restaurants for which Paris is known for, it is simply part of the French culture. You buy your baguette at your local bakery, the cheese at the fromagerie, the meat at the butcher etc.
Paris facts & figures
|Population:||11.5 million in the metropolitan area|
|Weather:||Moderate. Winters are damp, but not severe. Snowfall is light; sunshine is rare in winter; grey, foggy days are frequent. Summer temperatures are rarely oppressive, but rain can be heavy.|
|Currency:||EUR 1 = USD 1,3594|
|Price of a BigMac:||EUR 3,80|
|Average rent in private accommodation:|
EUR 1,700 (3 room apartment, unfurnished)
- that you don't need a stamp to send a letter to the French president? Here is his address: 55 rue du Faubourg Saint-Honoré, 75008 Paris.
- that the Eiffel tower was supposed to be removed 20 years after its construction in 1889?
- that with 478,000 trees, 120 main tree species, 8,000 trees alongside the ring road, Paris is the most densely wooded capital in Europe!
- that Paris incorporates on of the shortest - Rue Degrés (2nd arrondissement) 5.75 m long - and the narrowest - Rue du Chat-qui-Pêche (5th arrondissement): 1.80 m wide - roads in the world
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Centre National Edition Art et Images de Chatou?Ile des impressionnistes, 78400 - Perched on the ?le des Impressionnistes, the CNEAI counts as one of the most wonderful contemporary art hubs in the city. The venue, a barge moored to a splendid little garden, plays host all year long to a variety of exhibitions with an experimental bent andrarely disappoints.
Musée de la Vie Romantique- H?tel Scheffer-Renan, Musée de la Vie Romantique 16 rue Chaptal, 9e Paris -? When Dutch artist Ary Scheffer built this small villa in 1830, the area teemed with composers, writers and artists. Novelist George Sand was a guest at Scheffer's soirées, along with great names such as Chopin and Liszt. The museum is devoted to Sand, plus Scheffer’s paintings and other mementoes of the Romantic era. Newly renovated in 2013, the museum’s tree-lined courtyard café and greenhouse are the perfect summer secret garden.
Marais - Loose yourself in the Marais’ narrow, cobbled streets: this quartier is all about intimate museums, elegant mansions and (along rue des Rosiers) Jewish restaurants that sell the best falafels in the city. Start at the Musée d’Art et d’Histoire du Juda?sme (Jewish art and history museum) or the Musée Carnavalet, which covers the history of Paris, then nip down rue des Archives to the Marais’s quirky hunting museum, the Musée de la Chasse et de la Nature. Top off your day in Places des Vosges, where writer Victor Hugo’s former apartment (la Maison de Victor Hugo) is bedecked with fabulously garish decor and rafts of fascinating memorabilia.
Canal Saint Martin - Slow the pace with a leisurely cruise along Paris’ Canal St-Martin. Canauxrama’s canal trips start at the Port de l’Arsenal at Bastille, then float gently northwards for two and a half hours towards Bassin de la Villette at Stalingrad. When you get to Bassin de la Villette? two MK2 cinemas, linked together by a tiny boat, show both blockbuster and art-house films; or carry on along the canal edge (on foot) to visit the ?science and music museum in the Parc de la Villete.
Bouillon-Chartier, 7 rue du Faubourg Montmartre, 9e.The site in a former railway station expresses all the charm of Paris at its Belle Epoque best, all high ceilings, enormous mirrors and twinkling lamps. The uniformed waiters scurry around, your neighbor at the next table will probably try to engage you in conversation, and American couples loudly discuss the merits of their saucission ardéchois. Everything required for the 'typical' Parisian brasserie is here...
Le Perchoir, 14 rue Crespin du Gast, 11e ?-? An enormously popular new bar in Menilmontant, opened on a huge rooftop with a 360 degree view of the capital. Once you do make it up there, you’ll find a vast space surrounding a handsome bar, comfortable sofas strewn with cushions, colorful plants and scented herbs planted in pots around the seats or hung from railings. Watching the sunset over the Sacré-Coeur, glass in hand, under garlands of colored lights, really is something special...
Petit Bain, 7 port de la Gare, 13e ?- Not so much a terrace here as an upper deck, this arts centre has been afloat at the foot of the National Library (BNF) since 2010. It offers an excellent line-up of concerts and art exhibitions. The coveted terrace doubles as a bar, restaurant and octopus gardener’s paradise, decked out with myriad aquatic plants. The venue regularly hosts live music in a range of genres, from minimalist Norwegian pop and indie folk to rock and jazz...
Live jazz. The most exciting global names in jazz regularly come to play in Paris. Check out the sound at the “New Morning”, a low-key club that frequently programs ‘experimental’ jazz musicians, or tap your toes to USA biggies at Sunside/Sunset in Chatelet. At the bottom of the same street, Au Duc des Lombards also brings in a stream of international jazz stars.
Les Malfaitrices, 2 passage Josset, 11e ?- Secreted down a narrow passage, behind a discreet iron door, Les Malfaitrice has something of a fairytale to it – a vibe that the kooky proprietors, Julie Yülle and Madame Zigouigoui, do nothing to dispel. Since 2009, the pair have been converting yesterday's discarded clothes into today's must-have fashion item. It works like this: Yülle and Zigouigoui head to the flea markets to scout for raw material; bring it back to their workshop-boutique, where they proceed to snip, slice and sew until they've produced something beautiful...
Haili, 14 rue Crespin du Gast, 11e - Former stylist Patricia Wang creates looks from the practical to the chic to the unexpected in her boutique, stocked with the creations of European designers. Every season, new names appear: elegant Danes, offbeat Spaniards, dreamy Brits, all creating beautiful clothes. Patricia happily offers advice and has built a roster of regulars who are happy to take her recommendations as to what suits them...
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