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BofA signs lease for office space in Paris -Bloomberg
October 11, 2017 / 9:45 PM / 7 days ago

BofA signs lease for office space in Paris -Bloomberg

Oct 11 (Reuters) - Bank of America Corp has signed a lease for office space in Paris, cementing plans to move its European trading hub to France after Brexit, Bloomberg reported on Wednesday, citing people familiar with the decision.

BofA has agreed to rent about 100,000 square feet of space - large enough to accommodate a thousand workers, Bloomberg said. However, bank executives are considering possibly subleasing some of the space to other tenants, Bloomberg said, citing the people.

The bank leased space in a building that is being modernized by a unit of France’s postal service, La Poste, which owns the building, Bloomberg said.

Bank of America representatives could not immediately be reached for comment.

Last week, Goldman Sachs Group Inc said it was leasing space in a new building in Frankfurt, which it said would help execute its “Brexit contingency plan”.

Some of the recent bank moves are the result of growing nervousness about the future of London’s financial center amid slow and acrimonious negotiations between Britain’s Brexit minister David Davis and his opposite number at the European Commission, Michel Barnier.

Reporting by Sangameswaran S in Bengaluru; Editing by Matthew Lewis

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