With the integration of the Deutsche Bank business, BNP Paribas is aiming to become the top prime broker in Europe and potentially break out as a top four global player.
Tag: BNP Paribas
Eurex Clearing has cleared its first inflation swap transactions, with BNP Paribas, UniCredit and Societe Generale the first to submit trades.
Sophie Lugiez replaces Philippe Boulenguiez as head of global trading function at BNP Paribas Asset Management after 25 years with the French investment bank.
Brian Fagen had previously spent nine years with Deutsche Bank, and recently joined BNP Paribas following the substantial prime brokerage deal between both banks.
BNP Paribas suffers similar fate to Societe Generale as equities revenues plummet due to dislocation in hedges at height of coronavirus crisis.
Agreement between custodian and asset manager will include BNP Paribas using Aladdin to perform middle-office outsourced services.
The global pandemic is likely to cause a spike in outsourcing and according to custodian banks the biggest trend so far has been towards their outsourced trading services.
FX settlement provider CLS has added three major investment banks to its blockchain-based netting platform, with nine institutions now live on the service.
BNP Paribas CEO Jean-Laurent Bonnafé says Deutsche Bank prime brokerage business transition is proceeding very swiftly, with restructuring costs expected to reach €100 million this year.