Shakeup for BNP Paribas' London equity team

BNP Paribas has reorganised its London equity department as part of an effort it says is to increase the department's size and revenues.

Former head of structuring Shaun Wainstein will head the equity and derivatives (EQD) team, with Talbot Stark working as global hedge fund relationship manager for EQD and fixed-income sales. Phil Dardier, head of European equity financing and flow sales, will work in London and Paris to oversee the reform of the EQD flow and financing sales teams. Reporting to him is the new head of institutional flow sales in London, Claudio D'Angelo.

Jean-Eric Pacini will move from Paris to London to run structured product sales, and Alex Benech was named head of trading and structuring, also in London. All the above, and head of strategic equity John Lawrence, will serve on the newly created London management committee. BNP's head of corporate and investment banking said the bank was relying on growth in derivatives sales to meet its "ambitious" revenue targets for 2006.