Steinberg leaves BNP Paribas

Speaking to Risk, Steinberg said he intended to remain in equity derivatives, citing upcoming opportunities in areas such as equity finance. However, he said he had not yet decided where to go next.

"Todd's efforts and achievements are very much appreciated by the bank. Our global equities and commodities business is a leading player in the Americas thanks in part to his efforts," said a New York-based spokesperson for BNP Paribas.

Steinberg joined the French bank in September 2005 as deputy head of equities and derivatives for the Americas. He was promoted to head of equity derivatives in March 2006. Before that, he served as head of equity-linked products at Wachovia and head of US institutional equity derivatives at UBS.

He will be replaced by Lionel Crassier, former head of trading and structuring at the bank in New York.

Crassier will be assisted by Tom Mahoney, chief operating officer of global equity and commodity derivatives for the Americas, and Aaron Ford, head of equity sales for the Americas.

See also: Equity Derivatives House of the Year - BNP Paribas
BNP Paribas' Steinberg to head equity derivatives for the Americas
BNP Paribas makes two senior hires to its equity derivatives team