French plan to poach top Brit high-flyers with job security in post-Brexit bid for world domination
Headhunters promising tax-free, five-year contracts to workers who cross the Channel in pursuit of a new career
FRENCH headhunters are trying to poach City high-flyers claiming Paris offers them more post-Brexit security.
The recruiters are promising tax-free, five-year contracts to workers who cross the Channel.
They are particularly targeting asset managers, planting fears that UK-based businesses will lose their freedom to operate in the EU without restrictions.
But a senior City source told Sun City: “This is clearly an exaggeration. The City’s here to stay. It doesn’t risk becoming a backwater.”
“Passporting” rights currently give Brit-based firms the right to do business in any of the EU’s 27 other states.
But Jens Weidmann, president of Germany’s BUNDESBANK, claimed that such rights will “automatically cease” post-Brexit.
The City source warned: “The French are coming and they’re trying to take the best of the British to work on the Continent in a post-Brexit world.
“They’re trying to create a climate of fear suggesting somehow the UK won’t be fit for business once it leaves the EU.”
Recruiter MANPOWER last week reported an 800 per cent spike in finance job applications in Dublin since the referendum.
Its UK managing director Mark Cahill said: “We’ve seen London’s competitors like Paris and Frankfurt making overtures to the City’s big firms.”
But ratings agency MOODY’S played down fears of a City exodus. It said the impact on the City would be modest and manageable.