BNP Paribas announces the launch of its new Global Synthetic Prime sales and trading group within its Equities and Derivatives business.
The Sales group’s mandate is to market global synthetic equity finance products including equity swaps, portfolio swaps, contract for differences, structured financing transactions and stock loan and equity execution services to hedge funds. It will also be involved in selling the prime brokerage international platform.
The group is headed by Rich Sansaricq who is based in New York and has the responsibility of coordinating the synthetic prime business through a global sales team covering hedge funds in New York, London, Tokyo and Hong Kong.
Rich Sansaricq joined BNP Paribas in 2006 as head of equity finance sales in the US. During his tenure, he has successfully launched and developed BNP Paribas’ synthetic portfolio swap and equity swap platforms in the US. He will continue to report to Todd Steinberg, head of equities and derivatives in the Americas, and to Eric Deudon, global head of equity finance and prime services.
“By creating this global group under Rich’s leadership, we are certain to deliver our capabilities more effectively,” says Steinberg.