Yahoo Finance Morgan Stanley (MS) to Raise Headcount in Paris to 500 by 2025
Morgan Stanley MS has planned to increase staff in Paris by 200 by the end of 2025. With this rise, its total headcount in France will reach 500.
The new Paris-based bankers will mostly be devoted to sales and trading of macro products and stock derivatives.
Notably, macro products refer to the trading of fixed-income and currency-related securities.
After Britain’s exit from the European Union, an increasing number of financial institutions have been moving their key operations to France. Notably, Paris has grown to become a post-Brexit trading hub, replacing London.
Financial firms like JPMorgan Chase JPM, Goldman Sachs GS and Bank of America BAC are beefing up their presence in the French capital.
Earlier this month, BofA said that it planned to keep increasing its presence in Paris even after staff numbers rose more than eight-fold in four years.
JPMorgan currently has nearly 900 employees in Paris, including sales people and traders, representing a huge jump from 2019.
The global markets team at Goldman Sachs has more than doubled in the last two years, and the bank sees the numbers increasing further.
Over the past six months, shares of MS have lost 6.8% compared with the industry’s decline of 17.8%.
Image Source: Zacks Investment Research
Currently, Morgan Stanley carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report
Bank of America Corporation (BAC) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Morgan Stanley (MS) : Free Stock Analysis Report
