Gavin Dixon, European head of derivatives clearing services at BNP Paribas in London, is to leave the bank. In an email to Risk, Dixon confirmed his departure and said his next role is "unknown as yet".
A clearing source at another firm says the move is indicative of a wider retreat from client clearing, as banks struggle to make money from a business that has been the victim of postponed implementation and increased capital requirements.
BNP Paribas declined to comment.
The departure follows