A managing director at Deutsche Bank has been appointed global head of prime services at BNP Paribas in a major milestone in the integration of Deutsche Bank’s prime brokerage and electronic equities business.
Ashley Wilson takes on the senior role in London, leading prime brokerage and electronic execution globally at BNP Paribas, after previously working for more than seven years at Deutsche Bank most recently within the global prime finance business.
As well as global head of prime services, he has also been appointed deputy head of prime solutions and financing alongside Kieron Smith. Wilson will report to Raphael Masgnaux, global head of prime solutions and financing and G10 rates, and Nicolas Marque, global head of equity derivatives and head of global markets for Continental Europe.
BNP Paribas agreed to take on Deutsche Bank’s prime brokerage and electronic equities clients in July 2019 as the German bank exited equities sales and trading and prime finance in a major restructure. Wilson’s official appointment follows the news that BNP Paribas will roll out its expanded prime services division this year once the integration of Deutsche Bank’s clients is completed.
The French investment bank is looking to become the top prime broker in Europe following the Deutsche Bank deal, breaking into the top five prime brokers to compete with the likes of Goldman Sachs, Morgan Stanley, and JP Morgan. It also completed the acquisition of equity brokerage Exane following a 17-year partnership as it looks to take the top spot in European equities.
Elsewhere, BNP Paribas also confirmed that John Gallo has been appointed global head of institutional sales in New York, in addition to his current position as co-head of global markets Americas. Gallo also previously worked at Deutsche Bank where he ran the institutional client group.
“John’s appointment represents the bank’s commitment to growing its presence in the Americas and becoming a leading global markets house with a holistic offering across assets like global equities in cash, financing and derivatives,” BNP Paribas said in a statement.