In France, Goldman Sachs Investment Banking clients are focused on key three risk factors, according to Goldman Sachs' Pierre Hudry: geopolitical outlook, market stability and rising shareholder activism. Amid the uncertainty, however, French management teams remain focused on scaling businesses to compete on the global stage. "Achieving scale and being able to compete notably with the US players, which are massively consolidating and the Chinese players, who are benefitting from the whole market is really top of mind for these corporates," Hudry says.

This podcast was recorded on February 1, 2019.

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