BNP Paribas and Exane plan to join forces in equity brokerage, to create an ambitious player in the European equities market, based on a real leadership in France.
BNP Paribas and Exane's partnership structure will have an equal stake in the new set-up, and Exane's partners will have a majority of the voting rights.
This organisation confirms both companies' strategy to deliver independent and quality research that meets customers' needs. This research will be based in London and Paris.
The new partnership alliance plans to do business under the name Exane BNP Paribas, and in addition to its presence in Paris and London, it would also draw on both organisations' local presence on Continental Europe in Frankfurt, Milan, Zurich, and Geneva, as well as in New York. It would thus have a powerful distribution platform for European equities.
This innovative plan will be unveiled within the coming days to employee representative bodies in the various companies involved. The plan presently is that the new organisation could be up and fully operating by the end of the first quarter 2004.
BNP Paribas (www.bnpparibas.com
) is a European leader in banking and financial services, with leading positions in Asia and an active presence in the United States. BNP Paribas enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking.
) is one of the foremost independent European equity brokers with leading research on French equities whose position is regularly confirmed in market rankings.
Michèle Sicard 01 40 14 70 61
Carine Lauru 01 40 14 65 16
Henri de Clisson 01 40 14 65 14