Why is sovereign advisory only in Paris?

Bump

Probably from the relationship between the Rothchilds have had with French Heads of State for the last couple centuries, I imagine.

For reference, Lazard was founded in NOLA just prior to the outbreak of the Civil War.

It is because sovereign debt restructuring is negotiated at the Paris Club a group of officials from major creditor countries whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor countries. As debtor countries undertake reforms to stabilize and restore their macroeconomic and financial situation, Paris Club creditors provide an appropriate debt treatment. As stated by its name, the Paris Club is located in Paris. 

Because it has the best restaurant scene. 

I believe Millstein & Co (now since acquired by Guggenheim) was pretty active in the sovereign advisory space, and they're NYC-based. They did some high profile stuff like Puerto Rico's restructuring.