BNP Paribas’ expanded prime services business will launch after the integration of Deutsche Bank’s hedge fund clients is completed this year.
Tag: BNP Paribas
Custodian partners with CLSA to ease access to China’s equity capital markets via Stock Connect.
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.
Mixed fortunes for European custodians with a combination of double-digit revenue growth and some large declines during the first quarter.
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.
Deutsche Bank’s transition of prime and electronic equities clients to BNP Paribas moves forward after both banks receive approval for the deal.
Deutsche Bank is transitioning its prime brokerage and electronic equities clients to BNP Paribas as part of a major restructure.
The fine was related to failures over BNP Paribas' AML system to identify suspicious penny stock trades and wire transfers over a four year period.
The two firms agreed on a deal in principle in July as part of the German bank’s major restructuring and a complete withdrawal from equities trading.