SINGAPORE--(Business Wire)--
Paris EUROPLACE, the agency in charge of promoting the Paris financial
marketplace, organized its first annual Financial Forum in Singapore in a bid to
foster dialogue regarding lessons arising from the financial crisis, to restore
confidence and present new opportunities in European financial markets. The
Forum was attended by 300 French and Singaporean representatives of investors,
issuers, banking and financial institutions, as well as regulators and central
bankers.
A year ago, the global financial and economic crisis has changed the way one
looks at international finance. It has urged dialogue among international
financial centers in order to draw lessons from the crisis and to define and
implement new strategies.
HENG Swee Keat, Managing Director of the Monetary Authority of Singapore (MAS)
and Christian NOYER, Governor of Banque de France opened the forum.
Christian NOYER highlighted that "Today, we can be reasonably assured that we
have stabilized our economies and avoided the worst. Current forecasts by the
IMF show reasonable prospects for growth in the world economy in 2010. But there
are many downside risks and adverse scenarios that could still materialize.
Above all, we have a duty, and a mandate, to make sure that the causes of the
crisis are addressed and that our economies do not fall victim to such shocks in
the future".
Jean-François THEODORE, Chairman of Steering Committee of Paris EUROPLACE,
indicatedthat "various ways of cooperation shall be fostered between Paris and
Singapore, in particular in asset management, environmental finance & Socially
Responsible Investments (SRI), research and financial innovation".
Arnaud de BRESSON, Chief Executive, Paris EUROPLACE mentioned that "the Paris
marketplace has better resisted the crisis than many other international
financial centers, thanks to the quality of its regulation and to the business
model of French banks, and offers today a great deal of business opportunities"
- The euro represents 26% of reserve currencies and 30% of international
securities markets. It is also considered as a valuable hedge against the dollar
and commodity risk and is an efficient tool for portfolio diversification:
according to a recent study published by Bank of America and Merrill Lynch, the
post crisis environment will still benefit Europe as asset allocators will
continue to overweigh their investment in the Eurozone.
- the access to NYSE Euronext platform, the leading Exchange in the world, with
a large presence of French Blue chips in the Eurostoxx 50 index,
- the access to a secure and liquid Euro denominated bond market, with a strong
corporate bonds segment,
- the strength of the French Asset management industry, with the presence of
international market players: AXA IM, BNP Paribas AM, CAAM/SGAM and Natixis AM,
also operating in Singapore.
Additionally, Paris accelerates its positioning on new growing financial
segments: project financing, environmental finance (carbon and climate),
Socially Responsible Investment (SRI) and Islamic Finance.
The Paris EUROPLACE Financial Forum in Singapore 2009 was organized with the
support of the Monetary Authority of Singapore and Banque de France in
partnership with Invest in France Agency, BNP Paribas, Calyon, Crédit Agricole
Asset Management, Crédit Industriel et Commercial (CIC), Europlace Institute of
Finance (EIF), NYSE Euronext, Société Générale, Standard Chartered, Tradition
and with the kind support of the Regional Economic Department (French Embassy).
About Paris EUROPLACE
The mission of Paris EUROPLACE, a non-for-profit organisation created in 1993,
is to develop and further modernize the Paris financial market and promote its
key advantages at the regional, European and international level. Paris
EUROPLACE, which today gathers 150 member institutions, brings together a
multiplicity of players in the financial industry: corporate issuers, financial
intermediaries, asset management companies, law and accounting firms and
consultancies - all of which participate in the association`s actions and
activities. Paris EUROPLACE also contributes to the "competitiveness clusters"
program, and aims at making the Paris financial market a full-fledged center,
thereby confirming its leading position, particularly in asset management and in
financial research. Web Site : www.paris-europlace.net
Paris EUROPLACE
Managing Director
Arnaud de Bresson, +33 1 49 27 11 44
bresson@paris-europlace.com
Copyright Business Wire 2009
