BNP Paribas and Deutsche Bank complete the transfer of Global Prime Finance & Electronic Equities to BNP Paribas
The successful global integration was driven by strong collaboration between the teams of both firms as well as full support from the management at BNP Paribas and Deutsche Bank. Over the course of the past two years, BNP Paribas has transferred approximately 900 staff globally from Deutsche Bank.
Olivier Osty, Head of Global Markets and member of the Executive Committee, BNP Paribas said “We are delighted to have completed this global migration on schedule. By leveraging the strengths of the integrated platform, BNP Paribas is well-positioned to become the leading European Prime Services player on the global stage, establishing the new standard in prime services and electronic equities for institutional investors and corporate clients across the world.”
Rebecca Short, Chief Transformation Officer and member of the Management Board, Deutsche Bank said “We are pleased to have completed this complex transition on schedule. It is the result of strong and sustained collaboration between both teams who worked seamlessly to provide continuity to clients as well as a significant number of employees. With this, Deutsche Bank has achieved a key milestone in its ongoing transformation that is seeing it re-focus its business to become sustainably profitable.”
BNP Paribas is a leading bank in Europe with an international reach. It operates in 68 countries and has more than 193,000 employees, including nearly 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.
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.