BNP Paribas to purchase Bank of America prime brokerage arm

Upon completion of the sale, which will include the wholesale transfer of existing BoA prime brokerage clients, employees and operating systems, BNP Paribas will have significantly expanded its already considerable foothold in the US equity derivatives market.

BoA announced its intention to sell the prime brokerage arm in January, after taking writedowns of $5.6 billion on collateralised debt obligations and structured investment vehicles in 2007. The losses soured the bank’s efforts to expa

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: