BNP Paribas has created two new roles within its prime brokerage business, with a focus on providing trading and sales services for its hedge fund clients.
It has appointed Matthew Clark as global head of prime brokerage sales and Jerome Bassot as global head of prime trading, both based in London.
Clark joins from Citi where he was previously global head of client executives within its prime brokerage sales business, while Bassot has been promoted to the newly created role. He was previously global head of delta one trading.
Clark will be responsible for promoting the French bank’s multi-asset prime brokerage services to its institutional clients in Europe, US and Asia-Pacific.
“Prime brokerage is a key growth area for the bank and we have significantly expanded our capabilities since 2014,” said Raphael Masgnaux, global co-head of prime solutions & financing and G10 rates, BNP Paribas.
“Matthew and Jerome will play a key role in growing our franchise in this area, with Matthew bringing his considerable commercial experience, and Jerome the trading expertise he has built during his time at BNP Paribas.”
BNP Paribas were one of a number of banks that saw a boost in earnings for equities and prime brokerage during the second quarter.
It was ranked as one of the top performing prime brokers in Global Custodian’s Prime Brokerage Survey for 2017.