Agence France Locale: setting-up of the head office of its operational subsidiary in Lyon
24 June 2014
On 24 June 2014, the Board of Directors of the Agence France Locale, which is the national local government finance agency, decided to locate the head office of its operational subsidiary in Lyon.
The company, which will initially be staffed by ten or so senior managers specialising in financial and banking operations, will eventually have 40 people working at its Lyon offices.
It will be based at the heart of the Lyon Part-Dieu business district, within the Oxygène Tower.
The main role of this subsidiary will be to provide medium and long term finance to local government shareholders. As such it will play an essential role throughout the whole of French local government.
This decision is a major vote of confidence in Greater Lyon as a banking and financial center.
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The Agence France Locale is the national finance agency for local government. It was set up as part of the law of 26 July 2013 on the separation and regulation of banking activities.
It is made up of two parts:
- The AFL regional company, with responsibility for running operations and for strategic management,
- The AFL operational company, its subsidiary, responsible for raising funds in the markets.