BNP Paribas to expand equity derivatives team by 200

Gerardin said the increase was part of a general expansion, rather than being driven by a specific product launch or regional push. “We considered last year that it was probably time to accelerate and move from annual increases of 100 [people] a year to something much more substantial,” he said. “It’s not one big plan or one big subject, it's many plans on hundreds of different subjects.” The move follows the departure of some high-profile staff from the team in recent months. In March, the bank’s head of UK equities and equity derivatives, Christian Kwek, left the firm. The departure coincided with a significant reorganisation of the French bank’s London operations.The new hires have already begun and will be filled by a variety of senior and junior level staff from competitors and from outside the industry. By the end of the year, the department will be three times its size just four years ago, when 300 people worked on equity derivatives.“This industry is a growing one and there are so many things that we are still discovering – the emerging markets are less and less emerging and more and more developed, with new clients appearing every day,” added Gerardin. “What is new for us is that we are seeing clients coming from new parts of the world that were previously not covered by anybody.”

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