BNP Paribas adds to equity derivatives sales team

Based in Paris, he will report to Pierre Bes, head of the sales teams for Belgium, Luxembourg and Switzerland. Staquet was recruited from NIB Capital Bank, where he was an associate director in equity derivatives sales. He was also in charge of the restructuring of NIBC Petercam Derivatives earlier this year, which required the unwinding of €5 billion of equity derivatives positions over three months.

NIBC Petercam, a 2001 joint venture between NIB Capital and Petercam that traded equity derivatives, made substantial losses and was eventually wound down from February this year, despite efforts in 2004 to restructure it and bring it into profit.