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Bank of America's new Paris office is open and the staff are arriving there in waves

©Lobjoy-Bouvier-Boisseau Architecture

They're in. Bank of America's fancy new Paris office at La Poste, an old postal and telegraph headquarters in Paris's eighth arrondissement, opened in the first quarter of 2019.

A spokesperson for the bank said more than 200 people are now working in La Poste and that another 200 will be arriving by the end of 2019 - Brexit or not. 

As we reported previously, Bank of America's new building started out as a telegraph, telephone and postal exchange over 120 years ago. It has an atrium with trees and 800 square metres of terraces and gardens, including a roof garden.

BofA's main activities in La Poste will be sales and trading, investment banking and transaction services. Luigi Rizzo, the EMEA head of investment banking, moved to Paris last summer. The Paris markets business is being run by Sanaz Zaimi, whom BofA hired from Goldman in 2009. Vanessa Holtz is the Paris-based head of European Union FICC trading and Othmane Kabbaj is head of EU FICC sales. 

BofA is one of the first banks to get a major new EU hub up and running. In a post on LinkedIn last week, Goldman Sachs said its new office in Frankfurt's Marienturm won't be open until this autumn. "The building was built to the highest environmental standards and has a modern work environment, with daycare, gym and a restaurant," said Goldman.

Meanwhile, JPMorgan has been asking its bankers to relocate to the Parisian suburbs while it waits for its potential new office at Hotel De La Marine on Place de la Concorde to be refurbished.

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AUTHORThierry Iochem Insider Comment

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