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Finance & Economics

BNP Paribas completes transfer of global prime finance from Deutsche Bank

Jan 10, 2022

Over the course of the past 2 years, BNP Paribas has transferred approximately 900 staff globally from Deutsche Bank

BNP?Paribas

BNP Paribas completes transfer of global prime finance from Deutsche Bank. Source: shutterstock.com

BNP Paribas and Deutsche Bank have announced that the transfer of clients, technology and key staff from Deutsche Bank’s global prime finance and electronic equities businesses to BNP Paribas has been completed.

This 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.

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 be 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
Olivier Osty, Head of Global Markets and member of the Executive Committee at BNP Paribas

According to the press release, the French bank has shifted 900 Deutsche Bank staff across to its business.

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
Rebecca Short, Chief Transformation Officer and member of the Management Board, Deutsche Bank

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