The document summarizes key information about the Paris region as a financial center. It highlights that the Paris region is at the heart of a 500 million customer market in Europe and shelters 38 headquarters of Fortune 500 companies, making it the second largest concentration in the world. It also describes the Paris region as a unique innovation hot spot and financial hub with leading asset management, banking, trading, and private equity industries. The document promotes the region's attractive environment and support for US companies seeking a presence in Europe.

1. Paris Region, A Unique, Global and Innovative Financial Place
New York, February 2011

2. Content
Paris Region, A Unique Location
• At the Heart of a 500 M Customers Market……………………………………………………………………………………....…….page 4
• The 2nd Largest Concentration of Fortune 500 in the World……………………………………………………..………....…page 5
• An Innovation Hot Spot………………………………………………………………………………………………….…………………………page 6
• A smart Regulation…………………………………………………………………………………………………………………………………..page 7
• Focus on the European Securities and Markets Authority (ESMA)……………………………………………………………page 8
• An Attractive Location For US-based Companies……………………………………………………………………………….…....page 9
• Testimonial of Roy L. Heenan, Chairman of Heenan Blaikie………………………………..………………………………….page 10
Paris Region, A Global Financial Place
• A Leading Asset Management Industry……………………………………………………………………………………….…………page 12
• A Resilient French Banking Industry…………………………………………………………………………………………….…………page 13
• A Major European Online Trading Market……………………………………………………………………………………………..page 14
• The Largest Pan-European Private Equity Market…………………………………………………………………….……………page 15
• Being listed on the NYSE Euronext in Europe, a custom-tailored offer to the US companies ..………………page 16
Paris Region, An Innovative Financial Place
• The Financial Innovation Cluster initiative……………………………………………………………………………………...……..page 18
• Case Study: Finance Active……………………………………………………………………………………………………………………..page 22
Our Services
• Our Agency supports US-based Companies with Four main Services……………………………………………….…….page 24
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 2

3. Paris Region, A Unique Location

4. At the Heart of a 500 M Customers Market
Key figures
GDP : € 552 billion
GDP / inhabitant: € 47,000
4.7 % of European GDP
11.7 million inhabitants
814,600 companies
130,500 new companies created
Source : French Institute of Statistics 2010
Testimonial
“The quality of the people, the quality of the
connections, the quality of the environment
and the quality of life: Paris Region is the
perfect European location for the headquarters
of any international corporation.”
Michel Pébereau, Chairman of the Board of
Directors of BNP Paribas
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 4

5. The 2nd Largest Concentration of Fortune 500 in the World
Paris Region shelters 38 headquarters of the 500 most powerful companies in the world.
Headquarters – Fortune 500 world ranking 2010
Source : Fortune Magazine, Global 500 Companies, August 2010
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 5

6. A Unique Innovation Hot Spot
Europe’s leading science & technology hub to open a worldwide level R&D center in
Paris in 2011
Europe’s no. 1 region in terms of R&D expenditures (8% of
”Looking at the quality of graduates and at the quality of
European R&D expenditure
technical talent, the business talent, the public policy
talents […]it’s clearly the right thing to do”[…] We are
Europe’s no. 1 region for scientific publications,
inviting start-ups to come to Google in Paris to build their
accounting for 5% of European publications
businesses […] We do this relatively rarely and so, from my
perspective, this is a historic moment.”
7% of EU’s combined private and public research
Eric Schmidt, CEO of Google
workforce
Source: speach at Sciences-Po, 2010 Sept 9.
Attracting researchers from all over the world and Save the Date! 1st Fortnight-Dec 2011
over 80 nationalities PARIS REGION INNOVATION TOUR - 7th Edition
33 of the 50 French Nobel Prizes A unique event in Europe, PRIT 2010 brought together 850
people from 28 nationalities who are prime movers in
A world reference in mathematics innovation around conferences, workshops and exchange of
best practices.
Research sectors diversity: automotive industry, ICT,
pharmaceuticals, aerospace, agribusiness … 90 international clusters came to meet with the 8 R&D Paris
clusters to explore new ways of working together
8 R&D clusters internationally.
Source: ww.prit2010.eu
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 6

7. A Simplified and Harmonized Regulation
→ Current EU Finance Supervisory New Organization (2011 – Q1)
Main goals:
European Systemic Risk Council (ESRC)
ECB Board + Presidents of EBA/EIOPA/ESMA + EU Commission • Simplification
• Harmonization
• Centralization
Exchange of information Advice / warnings
2 mainstays:
European System of Financial Supervisors (ESFS) •New authorities
Launching of 3 pan-European agencies (Semester 1- 2011) with binding powers
• Effective and
Euro Banking Association
European Insurance and European Securities and coordinate regulation
Occupational Pensions Authority Markets Authority on systemic risk
(EBA)
(EIOPA) (ESMA)
National Banking National Insurance National Markets
Supervisory Authorities Supervisory Authorities Supervisory Authorities
France: “A.C.P.” France: “A.C.P.” France: “A.M.F.” (Financial
(formerly called “C.E.C.E.I.”) (formerly called “A.C.A.M.”) Markets Authority)
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: Revue Banque mag, Dec 2010 7

8. The European Securities and Markets Authority (ESMA)
→ Focus on a new Paris-based Authority with binding powers
A key contributor to the financial stability of the EU What is ESMA’s role?
Cross-representation • Safeguard the stability of the EU’s
Clear mandates financial market
ESMA provides: • Develop a single rule book in Europe
ESRC provides • information on companies • Strengthen international supervisory coop°
• analysis and markets
• warnings • Ensure the consistent treatment of investors
• identify risks
• recommendations • diminish possible threats across the EU
• Promote equal conditions of competition for
Cross-representation financial services providers
Clear mandates
What are the new competences and powers of ESMA? Premised in Paris
• Draft technical standards that are legally binding across the EU Launched in 2011
• Launch a fast track procedure to ensure consistent application of EU Law Full-time Chair on a
• Resolve disagreements between national authorities 5 years term
• Responsibilities for consumer protection Independent body
• A new supervisory role for credit rating agencies (including FSA London) 24 millions€ budget
• Ability to enter into arrangements with supervisory authorities, international 70 staff
organizations and the administrations of 3rd countries.
• Emergency powers
8
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: www.esma.europa.eu

9. An Attractive Location For US-based Companies
Since 2008, +50 US companies have benefited from our services
Financial Services CV Starr (Investment & Insurance agencies)
Louis Capital Market (brokerage services)
Blackstone Group (Investment & advisory firm)
Duff & Phelps (Financial advisory)
FXCM Holding LLC (Forex trading)
BNY Mellon (Assets management & securities servicing)
Wall Street System (Treasury, trade processing & cross-asset back-office)
Keiretsu Forum (Angel investor network)
Jefferson Wells (Risk advisory, tax, and finance and accounting)
Marketing & Communication RockCorps (Innovative social media)
ICT Google ( R&D centre)
Transport General Electric (Transportation)
Engineering consultancy firm Osisoft Inc
IT / Hardware Equinix Inc (Data Centre)
Others Tesla Motors (Electric vehicles)
Chipotle Mexican grill
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: « non-exhaustive ARD’ results », 2008-2010 9

10. Case Study: Heenan Blaikie new Paris office
→ Legal Services Going Global
In January 2011, Heenan Blaikie reinforced its practice in Paris, thereby becoming one of the leading international business law firms
operating in France with the capacity to answer the requirements of its African clients, among others.
Why is Paris the centerpiece of your International growth strategy? Heenan Blaikie - Key Figures
« Our business activities in Europe and Africa had been growing at such a 16 new Lawyers in the Paris office
tremendous pace that we needed a larger presence in Paris. This expansion Paris and Singapore are the focus points of
represents an important step of our international growth strategy. It will enable HB international growth strategy
our clients to benefit from the services of 16 experienced lawyers who will assist 1 year of informal collaboration prior to
them in their operations and development in Europe and Africa. » the grand opening
550 Lawyers worldwide
« The French capital is at the commercial and geopolitical crossroads of the
American, European and African continents. This represents an asset from which
our clients can benefit to fulfill their business objectives. »
The Paris office specializes in:
« The lawyers in our Paris office have been chosen because they share our Financing & restructurings
culture, which is based on service excellence. » business Law – commercial Law
Private Equity & Capital Venture
Roy L. Heenan, Founding Partner, Chairman of Heenan Blaikie Merger & Acquisitions / Joint-ventures
Litigation & international arbitration
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: www.heenanblaikie.com 10

11. Paris Region, A Global Financial Place

12. A Leading Asset Management Industry
€ 2,600 billion assets under management (Dec 2009) The French Big 4 are backed by the largest banks and
insurance groups. Two of them have more than
Number 1 in Europe for fund management: 23% of assets managed in doubled in size over the past 5 years
Europe ahead of Germany (20%) and UK (16%) France is the European
leader with 4 managers (USD 4.4tn) ahead of Germany with 2 managers
(USD 3.1tn), the UK and Switzerland with 1 manager each (less than USD
1tn).
Number 2 in Europe for fund domiciliation: 21% of assets domiciled
2nd fund management centre in the world behind the USA: 11,300
investment funds including 8,000 UCITS
Source : AFG, July, 2010
They chose the Paris Region
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 12

13. A Resilient French Banking Industry
According to Paris EUROPLACE (Oct., 2010), the French “Global Financial Services” Banking Model is based on diversification supported
by retail banking for the distribution of financial products. During the crisis, French bank assets depreciation totalled € 20 billion,
compared to € 35 billion in Germany, € 180 billion in the UK and € 350 billion in the USA
French Global Universal Banking Groups They Choose the Paris Region
Credit Agricole Group (Mutual Banking Group)
- Net Banking Income 2010: US$ 31.3 billion
- 9th largest Bank in the world by Tier 1 capital
- Number 1 Retail Banking Group in France, 2nd in Europe
- 59 million customers
- 3 domestic markets: France, Italy, Greece
BNP Paribas
Save the Date !
- Net Banking Income 2010, Q1-Q3: US$ 10.8 billion
- Number 1 in the eurozone by deposits. March 22nd 2011, Paris : « The Future of Banking », the
- 4 domestic markets: France, Italy, Belgium, Luxemburg Economist Conference http://www.economistconferences.com/banking
July 5th – 6th 2011, Paris : International Financial Forum,
Société Générale Paris, Paris EUROPLACE http://www.paris-europlace.net/events.htm
- Net Banking Income 2009 : US$ 21,7 billion
- 32 million customers Seminars organized by the French Banking Federation
(http://www.fbf.fr), the Revue Banque magazine http://www.revue-banque.fr
and the L’AGEFI French media http://www.agefi.fr
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 13

14. A Major European Online Trading Market
Cortal Consors SA is a European broker in personal investing Boursorama is a European online financial services company.
and online trading. Cortal Consors is a subsidiary of BNP Boursorama is a subsidiary of Societe Generale.
Paribas. Website : https://www.cortalconsors.fr Website : http://www.boursorama.com
Easy Bourse is a subsidiary of La Banque Postale
Website: http://www.easybourse.com The main shareholder of Fortuneo is Credit Mutuel Arkea.
Credit Mutuel is the second largest French retail bank.
Website : http://www.fortuneo.fr
Save the Date !
March 25th – 26th 2011 12th Technical Analysis trade show
September 16th – 17th 2011 6h Annual Paris trading show
Exhibitors
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: www.salonat.com 14

15. The Largest European Private Equity Market
€ 80 billion: largest market in Continental Europe
€ 10 billion invested per year in 1,500 companies (period: 2004 – 2009)
€ 1,571 million invested (+51%) in 763 companies (Q1-Q3, 2010: )
Save the Date !
April 28th 2011: Annual Conference of
French Private Equity, Paris, Palais Brongniart
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 15

16. Being listed on the NYSE Euronext in Europe, a custom-tailored offer
to the US companies
NYSE Euronext (NYX), the holding company created by the Since 2008, a cost-effective Fast Path process enables US-
combination of NYSE Group, Inc. and Euronext N.V., was listed companies to complete a cross-listing on NYSE
launched on April 4, 2007. Euronext in Paris.
With more than 8,000 listed issues, NYSE Euronext’s equities Philip Morris International, March 2008
markets – the New York Stock Exchange, NYSE Euronext, NYSE Anheuser-Busch, April 2008
Amex, NYSE Alternext and NYSE Arca – represent nearly 40% Companhia Vale do Rio Doce, July 2008
of the world’s equities trading, the most liquidity of any global
exchange group. Cliffs Natural Resources Inc., April 2009
Weatherford International Ltd, Oct. 2009
NYSE Euronext also operates NYSE Liffe, the leading PartnerRE, Dec. 2009
European derivatives business and the world’s 2nd largest by AgFeed Industries Inc., March 2010
value of trading. NYSE Euronext is in the S&P 500 index and is Knight Capital, May 2010
the only exchange operator in the S&P 100 index and Fortune Watsco, October 2010
500. NYSE Euronext is in the S&P 500 index and is the only
Toreador Resources, December 2010
Exchange Operator in the S&P 100 index and Fortune 500
We do support US-Listed companies that choose the Fast Path through the organization of common road-shows in America and in
Europe
Source : NYSE Euronext, Jan 2011
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 16

17. Paris Region, An Innovative Financial Place

18. The Finance Innovation Cluster Initiative
The Finance Innovation cluster supports industrial and research projects related to the financial services industry
Innovation in Finance Finance Innovation Cluster - Main drivers
Create synergies and the necessary conditions to foster
1,000 innovative financial businesses (less than 5 years old) innovative financial projects
identified in the Paris Region covering all financial sectors
Support the development and financing of SME’s and
100 industrial and research projects approved by a selection innovation
committee of experts
Develop an ecosystem by organizing exchanges between large
firms, SME’s and academics
5 main areas of innovation: SME financing tools, Asset and Risk
Evaluation, IT applied to Finance, Financial Analysis & Information, Reinforce the globally-renowned French research and training
Finance & Sustainable Development, Monetics hub in finance and economics
Sources of public funds: OSEO, FUI, ANR, R&D tax credits Contribute to the emergence of projects in social and
environmental finance (carbon trading, climate indices, micro-
→ US companies that can benefit from these highy competitive finance)
incentives
Promote international business opportunities
Founders
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 18

19. The Finance Innovation Cluster initiative
→ supports innovative IT/Finance projects
Sector Project name Company name Innovative project description
Box & Automation SWIFT-based solutions allowing international groups a global and day-to-day visibility
C2BOX
Solutions of cash-flows
Real-time treatment of market data through an FPGA chip system integrated into
QUANTFPGA QuantHouse
Quanthouse’s trading platform
FRIENDSCLEAR
FriendsClear Peer-to-peer loan financing platform for entrepreneurs (micro credit)
TPE
Loov Laser Loyalty Specific manetary system for virtual social networks (Collaborative - FUI Project)
IT / Finance
New supplies software products and innovative services for preventative management
VISION SOCIAL Alto
of working conditions
Phoenix Financial
Phoenix Global solution for managing electronic trading orders.
Services
AMAFI BBSP Massive analysis of financial series
Source : Finance Innovation, January 2011 http://www.finance-innovation.org/projets_label_en.htm
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 19

20. The Finance Innovation Cluster Initiative
→ supports Asset & Risk Evaluation Projects
Sector Project name Company name Description
Innovative solutions facilitating financial management, debt surveillance and
FX'ENT Finance Active
decision-making support
STAR Cid Consulting Compliance monitoring software for financial institutions
Natural classification of investment funds
MULTIRATINGS N/A
Paris-MHM OTC Conseil Development of solutions for managing long term market risks
CRIS Zéliade Systems Independent valuation and risk analysis platform for credit derivatives
Asset & Risk
evaluation Azurris Risk Solution dedicated to help corporates reduce the cost and raise the efficiency
R=MC2 of their hedging policy against financial risks (forex, commodities, interest rates)
Advantage
Risk control and valuation methodology for banks
C2R Riskalis
Independent valuation platform for credit derivatives and illiquid structured
CREDINEXT Pricing Partners
bonds
Taïga Collateral Development of the first notation and scoring platform of SME’s Working
SCORING TAIGA
Management Capital
Source : Finance Innovation, January 2011 http://www.finance-innovation.org/projets_label_en.htm
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 20

21. The Finance Innovation Cluster Initiative
→ supports Financial Analysis, SME Financing tools and Sustainable Finance
Sector Project name Company name Description
European financial and extra-financial reporting platform or listed companies, in
EFIREP Hégoa-Solutions XBRL
Financial
Analysis & Independent Equity Research provider covering the 500 largest European stocks
ALPHAVALUE N/A
information
projects Dynamic tool for the financial analysis and investment decision, dedicated to
OPALE RESEARCH Opale Finance small and medium listed companies (intranet and extranet)
Generis Capital Bond financing technique for innovative and technological startups
VENTURE Loan
Partners
SME Financing
tools Scoring platform within a portal dedicated to SME credit brokerage
FINANCEMENT- Financement-
ENTREPRISE.COM entreprise
Finance & Software risk management energy and carbon for companies.
Sustainable FLEXINERGIE Evolution énergie
Development
Finance & Risk control methodology dedicated to Micro Finance Institutions
Risk Manager
Sustainable OPENSPACE
Sans Frontières
Development
Source : Finance Innovation, January 2011 http://www.finance-innovation.org/projets_label_en.htm
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 21

22. The Finance Innovation Initiative
→ Case study : Finance Active
Finance active is an innovative company Created in 2000
that combines financial expertise and
the technologies in order to provide a 100 employees :
high quality service to financial decision
makers. Financial R&D, innovative
technologies, customer financial
assistance
Services SaaS dedicated to interest rate
and exchange risks management.
2 000 customers in Europe :
from CAC40 corporates to public
Present throughout in 7 European sector and municipalities
countries, Finance active assists its
clients for the management of their
debts, investments, exchange rate risks. 97% customer satisfaction rate
Finance active is independent from all 20% of turnover reinvested in
banking or industrial groups. This R&D
independence guarantees a complete
objectivity for its customers. 6000 financial decision makers
active users in the world
History www.financeactive.com
2010 - Finance active reaches 100 associates
2009 - Finance active counts 2000 clients – Label of Finance Innovation, the finance innovation cluster
2004 - Second label Innovative Company awarded by ANVAR (National French Innovation Agency)
2000 - Launch of Finance active in Paris by Jacques Descourtieux and Patrice Chatard
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 22

23. The Finance Innovation Cluster Initiative
→ QuantValley Paris-2020 Cité des Quants, A pioneering entrepreneurial initiative
Launched in June 2011
Will be attending forums in Europe, the US,
the Middle East and Asia in 2011
Promotion of Quantitative Management Who is involved?
Promote Quant Finance’ contribution to 20 Founding members (see below)
research, risk management and value creation
for investors 8 Management firms
Encourage the emergence of sustainable links University centers
between the academic and professional field Research laboratories
Foster financial innovation through teamwork Finance Innovation Cluster
Promote Paris market place’s expertise across
the world
Attract talents and international investors
Main founders
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 Source: www.quantvalley.org 23

24. The Paris Region Economic Development Agency supports non-French
companies with four main services
WE ADVISE & ASSIST COMPANIES THAT ARE LOOKING FOR STARTING, EXPANDING OR
Paris Region RELOCATING BUSINESS ACTIVITIES IN THE PARIS REGION
Development
give you a custom-tailored analysis of the region: economic outlook & where to locate
Agency
help you through the entire process of setting up to opening day and beyond.
Our answers to your business location needs
Finding office space Getting into the market
Offices, warehouses, sites, etc. Information on your business sector
Costs of purchasing and renting Meetings arrangements
Accompanying you on site visits Access to public partners
Occasional use of our offices PR services
Recruiting Setting up
Recruiting local personnel Legal advice
Supporting your expatriates Fiscal information
Information on employment contracts Financing / subsidies
& social security issues Providing contacts
Environmental Management Your contact : Romain GUIZARD
Help you to assess the environmental Business Operations Unit
and social impact of your business Paris Region Economic Development Agency
rguizard@paris-region.com
Assist you in developing sustainable
+ 33 6 27 53 50 26
development strategies, complete with strategic + 33 1 58 18 69 29
objectives and measures
Access to public and private partners http://www.paris-region.com
PARIS REGION ECONOMIC DEVELOPMENT AGENCY - JANUARY 2011 24

25. Contacts
Romain GUIZARD
Financial Services Director
Email : rguizard@paris-region.com
Cell: + 33 6 27 53 50 26
Direct Line: + 33 1 58 18 69 29
Website: http://www.paris-region.com