BNP Paribas and Deutsche Bank announce that the transfer of clients, technology and key staff from Deutsche Bank’s Global Prime Finance and Electronic Equities businesses to BNP Paribas has been successfully completed by the end of 2021, in line with the targeted timeline.
The successful global integration was driven by strong collaboration between the teams of both firms as well as full support from the management at BNP Paribas and Deutsche Bank. Over the course of the past two years, BNP Paribas has transferred approximately 900 staff globally from Deutsche Bank.
Latest Fintech News: Terminus Capital Partners Acquires Pooled Investment Fund Software Company Delta Data
Olivier Osty, Head of Global Markets and member of the Executive Committee, BNP Paribas said “We are delighted to have completed this global migration on schedule. By leveraging the strengths of the integrated platform, BNP Paribas is well-positioned to become the leading European Prime Services player on the global stage, establishing the new standard in prime services and electronic equities for institutional investors and corporate clients across the world.”
Rebecca Short, Chief Transformation Officer and member of the Management Board, Deutsche Bank said “We are pleased to have completed this complex transition on schedule. It is the result of strong and sustained collaboration between both teams who worked seamlessly to provide continuity to clients as well as a significant number of employees. With this, Deutsche Bank has achieved a key milestone in its ongoing transformation that is seeing it re-focus its business to become sustainably profitable.”
Latest Fintech News: Reltime ‘RTC’ List Its Unique PoA Blockchain and Decentralized Financial Ecosystem
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
Latest Fintech News: Atmosphere Raises $100 Million in Funding to Accelerate Global Expansion
[To share your insights with us, please write to sghosh@martechseries.com]
