After a successful 17-year partnership, BNP Paribas is looking to acquire up to 100% of Exane*, raising its stake from the 50% currently held.
The contemplated transaction would further strengthen and widen the range of cash equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally.
This, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will position the bank as a leading provider in Global Equities.
“The long-standing and effective partnership with Exane provided our clients with superior access to the equity capital markets. We look forward to further enhancing our equities franchise and most actively supporting our clients as we join forces in an ever more integrated manner,” said Yann Gérardin, Deputy Chief Operating Officer and Head of Corporate and Institutional Banking, BNP Paribas.
“We’ve worked closely with Exane for 17 years, supporting its development into a top-ranked Research and leading European equities business. This is a natural evolution following our successful partnership, working together to deliver even deeper relationships with our clients. We really look forward to further strengthening the relationship with Exane in equities and derivatives”, said Olivier Osty, Head of Global Markets, BNP Paribas.
“This is an exciting new phase. Our long-term partnership with BNP Paribas has enabled us to invest in great people and technology to build a top European equities franchise. Our teams look forward to working even more closely with our BNP Paribas colleagues across Prime Services, Global Electronic Trading, Equity Derivatives and Equity Capital Markets to better service clients across the globe,” said Nicolas Chanut, CEO of Exane.
* The contemplated transaction will be subject to relevant shareholders, regulatory and competition approvals, and is also subject to the review of relevant works councils.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 68 countries, with approximately 193,000 employees, of which more than 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.