BNP Paribas Global Equities and Commodity Derivatives (GECD) was selected by Crédit Agricole CIB to ensure the administrative management of its equity derivatives portfolio which is being discontinued.
This transaction is a unique in the equity derivatives' business because of its size and sophistication. Within this framework, Crédit Agricole CIB, will completely transfer the market risks linked to its positions to BNP Paribas GECD which will manage the hedge. It will also transfer the administrative and operational management of a EUR 12.5 billion portfolio of notional to BNP Paribas GECD which will from January 2014 ensure the continuity of service for the holders of these products (secondary market, valuations, reporting, client relationship, etc.).
Yann Gérardin, Global Head of BNP Paribas GECD, commented: “We are proud to have been chosen by Crédit Agricole CIB for this transaction. It demonstrates the quality of our infrastructure in the equity derivatives business and the efficiency of our teams. BNP Paribas GECD will bring all its know-how to meet the new needs linked to changes in the industry.”
“The smooth management of the closure of our equity and fund derivatives activity is essential for Crédit Agricole CIB. After a competitive selection process which lasted several months, we have decided to select BNP Paribas to conduct by our side, in the environment that appeared the most favourable for us, this significant and imposing run-off project”, explains Régis Monfront, Deputy CEO of Crédit Agricole CIB.
ABOUT CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK
Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world's fifth largest bank by total assets (The Banker, July 2013).
Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, investment banking, structured finance and corporate banking.
The Corporate and Investment Bank is structured around four major divisions:
• Client Coverage & International Network and Global Investment Banking
• Structured Finance
• Global Markets Division
• Debt Optimisation & Distribution.
The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, America, Asia and the Middle East.
For more information, please visit its website at www.ca-cib.com
ABOUT BNP PARIBAS CORPORATE AND INVESTMENT BANKING
BNP Paribas Corporate and Investment Banking (CIB) is a leading provider of solutions to a wide range of clients including corporates, sovereigns, financial institutions and investors worldwide. Approximately 19,000 professionals in 45 countries provide clients with personalized services for managing their risks and assets, financing and expanding their business and servicing their operational needs.
BNP Paribas CIB excels in:
Corporate Banking - where it has leading franchises in Transaction Banking (trade finance, cash management) and in Specialized Financing (energy & commodities, transportation, export, project, leveraged, media telecom, corporate acquisition finance and real estate)
Derivatives - where it is one of the leading global players in interest rates, credit, foreign exchange, commodity and equity derivatives.
Advisory and Capital Markets - where it is a top European house in ECM and a global leader in DCM (bond, convertibles and equity issuance)
BNP Paribas has been named “Bank of the Year 2012” by the International Financing Review.