Pacini promoted, Tranter departs as BNP merges sales roles

BNP Paribas Corporate & Investment Banking in London has merged sales roles in its equity derivatives operation under the leadership of Jean-Eric Pacini. Pacini's expanded sales role includes responsibility for flow sales, a business previously headed up by Nick Tranter, who has left the bank. The changes are part of a restructuring at the bank following the announcement of financial results for 2008 last week that included nearly 2 billion euros of losses in the CIB division.

Pacini will report locally to Shaun Wainstein, head of equities & derivatives in London, to Remi Frank, global head of sales for equities and derivatives, and to Eric Le Brusq, deputy head of sales for equities and Derivatives in Paris. Pacini took over the London-based structured products sales team at BNP in 2005.

He will work closely with the heads of the product lines within equities and derivatives and the banks' new institutional relationship management group, which will be headed by Talbot Stark, it was announced last month. Pacini's responsibilities will include improving cross selling between the different specialist sales teams within equities & derivatives and the wider corporate and investment bank.

Tranter joined BNP as head of European equity derivatives flow sales on January 28 2008, with a brief that included the overseeing of equity derivatives business with UK clients. Tranter reported to Denis Frances, global head of equity derivatives flow sales and to Wainstein, head. He was formerly a managing director at Morgan Stanley, where he was head of pan-European structured and flow equity derivatives sales. Before that, he worked as an equity derivatives analyst and structurer at JP Morgan in London.