FREE now SUBSCRIBE Invalid email Make the most of your money by signing up to our newsletter fornow We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

Andre Bourbonnais, CEO of PSP Investments, backed the City of London to beat economic uncertainties fuelled by the UK’s European divorce and continue as a financial powerhouse. French president-elect Emmanuel Macron hinted he would look to lure firms from London to Paris as he seeks to offer business a place within the bloc. Mr Macron has pledged radical reforms to shake up France’s labour laws, more flexibility in work hours and to inject dynamism into the French economy in a bid to attract new business. However, Mr Bourbonnais told CNBC: “We certainly believe London is going to remain the financial centre of Europe.

GETTY•CNBC A leading investment boss backed London to remain Europe's financial hub

We want to be the heart of the action and I think it is going to remain in London Andre Bourbonnais

"It’s hard to think we can replicate the talent, infrastructure and the relationship and network which is based here. “We’re confident London is going to remain very important. It could be a number of opportunities for the big banks to send some of their staff elsewhere, but the decision-making centre is likely to remain here. “We are confident it is the right place for us to establish our office.” Mr Bourbonnais even rebuked claims his business could opt for “satellite offices” inside the EU, insisting London will continue to where they “concentrate their investment activities”.

“As I said because it’s likely to remain the decision centre, to us it doesn’t really affect us if there is a middle office activities that are elsewhere,” he added. “We want to be the heart of the action and I think it is going to remain here.” However, Mr Bourbonnais’ opinions were not echoed by Arnaud de Bresson, head of Paris Europlace, a group that promotes the city’s financial sector. Mr Bresson believes 20,000 finance workers will move from London to Paris as Brexit becomes a reality. He said: “Macron will personally make it his mission to convince the international banks as well as investors of the benefits of Paris.

Snap election 2017: The pictures politicians may not want you to see Sat, May 27, 2017 Protests, fights and daleks, it all happened when the politicians hit the campaign trail for the snap election Play slideshow Getty Images 1 of 48 A UK Independence Party supporter (L) scuffles with a pro-europe supporter ahead of a visit by UKIP leader Paul Nuttall to Hartlepool