Emmanuel Macron is often called the ‘president of the rich’ in France, and the former Rothschild banker did nothing to dispel this image in May when he gathered executives, including Wall Street bank chief executives, in Versailles to discuss investment.
Remarks Macron made at the summit to Bloomberg about cross-border financial services mergers and acquisitions created problems for the heads of big French banks, especially Societe Generale.
Macron said that “consolidation” is needed to foster an improved European single market and highlighted challenges faced by BNP Paribas in closing cross-border mergers.
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