PARIS (Reuters) – French President Emmanuel Macron on Tuesday inaugurated JPMorgan’s new shopping center in Paris, as France advocates for more banking jobs and tries to attract finance workers who want to leave London after Brexit.

Banks are spending billions of dollars to strengthen their operations in the European Union after Brexit to avoid disrupting some of their activities.

Flanked by JPMorgan CEO Jamie Dimon, Macron visited the US bank’s business base in central Paris, focused on European debt trading. It is expected to employ 800 people in Paris by 2022, some of them in its current headquarters nearby.

Of those jobs, some 265 were already working in France before Britain left the EU, including in advisory roles, and 440 sales and sales staff will join by the end of the year, some employees moving from London. The bank will also hire locally, she said in a statement.

Former investment banker Macron, who came to power in 2017 with a program of pro-business reforms and an attempt to attract more foreign investment, faces another presidential election in 2022.

The recent local elections have provided no clear indicator, as Macron’s party has failed to achieve regional victories.

JPMorgan also has large shopping centers in Amsterdam, Dublin and Frankfurt, and also remains firmly anchored in London, although some jobs are migrating. The bank employs some 19,000 people in Great Britain in total, including more than 10,000 in London alone.

But Paris remains at the forefront of attempts to relocate euro derivative clearing from London to the EU after Britain’s ‘Big Bang’ liberalization of financial rules in the 1980s drained financial capital from the EU. UE of this activity and this staff.

JPMorgan will house the new Parisian shopping center in a seven-story building a stone’s throw from the Louvre museum.