With a GDP of about $2.6 trillion and a growth rate of 1.1 percent, France is not behind when it comes to contributing to the largest economies. This list of Financial Services France, provides some of the largest contributors in terms of financial service providers to France’s economy:
Founded in 1852 by Claude Bebear, AXA is a multinational insurance firm with its headquarters located in Paris, France. AXA deals in global insurance, investment management and various other financial services. However, its main services manage health and life insurance. Primarily operating in Western Europe, it also operates in the Middle East, the Asia Pacific region and North America.
Operating in five business segments, namely, International Insurance, Asset Management, Life and Savings, Property and Casualty, and other financial services, it joined the top 3 financial services brands worldwide in the year 2016. The segment of International Insurance deals with the major national and international coverage. Asset Management is the segments that serves not just private clients, but also institutional clients and individual customers, providing them with services regarding managing investments. The third segment, Life and Savings, is what encompasses the area of term life, universal life, endowment and various other products. The fourth segment named Property and Casualty segment, as the name suggests, deals with house and property insurance’s.
With over 93,146 employs spread out in all its branches, it is the top financial service provider in France.
2) BNP Paribas
Formed through the merger between Banque Nationale de Paris and Paribas in the year 2000, this bank has gone nowhere but up. It is an international banking group spread throughout a good number of 75 countries. BNP has earned itself various titles and positions. For instance, in the year 2016, it was the 2nd leading back in the area of Europe, and was ranked at a good 8 globally. As of the end of last year, the net income available to its equity holders stood at a fat figure of 7,702 million Euros.
Serving more than 30 million customers in just its domestic markets of France, Belgium, Luxembourg and Italy, it is no wonder that this bank has earned itself the title of being one of the biggest in the world.
BNP Paribas works in two major business divisions; Retail Banking and Services, which includes the likes of Domestic Markets and International Financial Services and Corporate and Institutional Banking. The second unit is the Investment Solutions division that comprises of asset management, custodial banking, online brokerage, insurance and real estate.
More commonly known as SocGen, this is a multinational financial and banking services company which has its headquarters located in Paris, France. Being a universal bank, it has been split into three divisions; Retail Banking and Specialized Financial Services, Global Investment Management and Services, and lastly, Corporate Investment and Banking. SocGen provides a wide array of ranging services to its customers including retail and private banking, investment management, insurance, corporate banking and investment. With more than 171,900 employees in all of its branches, it is a big giant in France.
Caisse Nationale de ‘Prévoyance Assurances, formed in the year 1959 as a subsidiary of subsidiary of Caisse des dépôts et consignations, it has paved its path to being listed in the Fortune Global 500 list. CNP assurances deal with tailor-made personal risk, pension, and term credit insurance products to state the most common. It is famously known for its untarnished reputation for upholding the human and citizens’ rights, in accordance with the Universal Declaration of Human Rights. In fact, it also abides by the labor standards set not just internationally, but the local labor standards in where it operates too.
Having employed more than 161,000 people in all of its branches, the Credit Agricole Group is said to be the largest retail banking group in France. Apart from the usual banking services that it provides, it also specializes in insurance and asset management. CASA has its headquarters located in Paris. It has not just paved its way to the top of France, it is also reported to be the third biggest financial services company in all of Europe, and is the 8th largest in this sector globally.
NGAM is an asset management company, based and located in Paris. Being the second biggest French manager considering its market share, its clients vary from institutional investors to distributors. It essentially operated in six separate business units; fixed income, European equities, investment and client solutions, global emerging, structured products and volatility and responsible investment.
7) Group BPCE
Having been introduced only recently, Group BPCE has climbed its way to the top. It deals in banking and financial services. Coming to existence through the merger of Caisse Nationale Des Caisses D’épargne and Banque Fédérale Des Banques Populaires, this company now operates in over 8,200 offices just nationwide. Whatever size the consumer may be, individual or a large enterprise, this company deals with over 40 million customers.
Being the fifth largest in France of its kind, LBPAM is an asset management company that acts on behalf of its clients. This is a subsidiary company, with La Banque Postale for 70%, 25% at Aegon Asset Management and the remaining 5% at Malakoff Mederic. With 400 large key clients, it is no wonder that it is one of the top asset management companies in France.
This is an independent French law firm founded in the year 1957. Since then, it has risen to levels of success in the world of law regarding financial services. It delivers expertise on areas like capital markets. It is known to deal with leading banks and corporations on the deals that they are meant to take and which ones would serve to be useful for them. Its practice of real estate finance is also remarkable.
A famous high-street bank located in France, the CE operate locally and are known for their services in all of France. They specialize in not just banking services, but also insurances like car and property.
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