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Financial Center: Moscow hires, Paris watches Frankfurt

Wednesday March 16,2011,

While the potential merger between the NYSE and Deutsche Boerse could curb the ambitions of Paris Europlace, Russia deploys substantial resources to turn Moscow into a global financial center.

According to Bloomberg’s sources, Jamie Dimon, Vikram Pandit, Lloyd Blankfein, Brian T. Moynihan, John Mack, Stephen Schwarzman, respectively CEO of JP Morgan, Citigroup, Goldman, Bank of America, Morgan Stanley and Blackstone would join Kremlin advisory board on this project. The Kremlin’s official website reported a working meeting between President Medvedev and Lloyd Blankfein on Tuesday March 15th. The heads of accounting firms KPMG, PricewaterhouseCoopers and Ernst & Young would also be part of the panel. The path is not easy. Moscow ranked 68th of 75 cities in the Global Financial Centers Index commissioned by the City of London in 2009

Paris seems rather to welcome this initiative. During the French-Russian financial forum organized by Paris Europlace and the city of Moscow last December, France was still positioning itself as a leading partner for Russian financial development program

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