BNP Paribas merges interest rate and forex trading businesses

The reorganisation, which follows what one source reckoned was a “a very disappointing bonus season” at the French investment bank, will see Guillaume Amblard installed as head of the French investment bank’s newly formed forex and interest rate trading group.

Amblard, who is currently global head of interest rate options trading, will report to Frédéric Janbon, global head of fixed income. He will also become the firm’s eighth fixed-income executive committee member alongside David Brunner, François Breyeisen (chief operating officer of fixed income), Bob Hawley, Paul Hearn, Eric Nicolas, Hikaru Ogata and Janbon.

Elsewhere, Christian Mundigo will relinquish his current position as head of European long-term interest rate trading in London and move to New York to head the bank’s dollar interest rate trading unit. He will report to Amblard. Also reporting to Amblard will be Henri Foch, global head of forex trading, Pierre Renom, global head of short-term rates trading, and Cyril Beuzit, global head of interest rates strategy.

Janbon said he expected BNP Paribas, which won Risk’s interest rate derivatives house of the year award for 2006, to improve its overall trading and risk-taking activities in both markets as a result of the restructuring.

Guillaume Amblard, rising star at BNP Paribas

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