BNP Paribas alters equities business structure

BNP Paribas is to simplify the structure of its equity business following its partnership with French broker Exane.

From June, Yann Gérardin, who is currently head of equity derivatives, will be global head of equities.

Also from June, Chantal Mazzacurati, currently global head of equities, will be senior executive vice-president reporting to Philippe Blavier, head of corporate and investment banking. BNP Paribas said she will be responsible for specific projects relating to the development of corporate and investment banking activities.

BNP Paribas and Exane, which brokers cash equities and equity derivatives, announced at the end of last year the formation of a partnership to jointly sell share-based products. Both partners have an equal share in the new business, called Exane BNP Paribas, but Exane’s partners have a majority of the voting rights.