Deutsche Bank to transition prime brokerage and electronic equities franchise to BNP Paribas
Deutsche Bank agreement with BNP Paribas comes as bank plans to exit equities trading and to reduce its workforce by 18,000.
Deutsche Bank agreement with BNP Paribas comes as bank plans to exit equities trading and to reduce its workforce by 18,000.
Garth Ritchie departs as Deutsche Bank prepares for major business restructuring.
Major restructure at Societe Generale is part of the bank’s plans to reduce costs by €500 million.
The TRADE looks at how Deutsche Bank, among the top five prime brokers not so long ago, ended up in a situation where the future of its prime brokerage business is in question.
Speakers from Goldman Sachs, Tradeweb and MarketAxess detailed how their organisations are using automation to enhance efficiencies and outcomes for the fixed income markets.
James Masserio and Salim Nemouchi will replace Hatem Mustapha as co-heads of equities and equity derivatives for the Americas region.
Walid Maaouni joined BNP Paribas in 2009 and has previously worked at Citi, Barclays and Goldman Sachs.
INTL FCStone has said that demand from institutional clients for mobile trading services has increased.
Merrill Lynch Commodities admitted the illegal activity following an investigation by the US Department of Justice and the CFTC.
Credit Suisse has seen increased profits from the business following a programme of optimising and rationalising its prime brokerage balance sheet.