French bankers miss a left turn and head to UK

Following the socialist triumph in the French election, aristocrats and bankers have requested transfers to the City. And La Mondiale Europartner, the wealth management subsidiary of France’s fourth-biggest insurer AG2R La Mondiale, wasn’t far behind. It threw a London launch party at Bentley’s Oyster Bar and Grill in Mayfair this week, hosted by chief executive Fabrice Sauvignon. Of course. Guests included private wealth bankers from HSBC, Societe Generale, Russell Investments, Kleinwort Benson, and Alan Miller, a former New Star fund manager now running his own shop. Steve Whyburd, a La Mondiale executive, agreed with Paris-born IMF chief Christine Lagarde’s assessment of the British economy. “Just like the new president in France, growth – something the Brits are unfortunately not used to of late – is on La Mondiale's agenda. Austerity has gone too far when it’s eating into their bank balances – something we will rectify with our own investment strategies,” he said munching on an oyster rarebit canape .