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DB transfers global prime finance, e-equities to BNP Paribas
Combined unit set to propel BNP Paribas into the top tier of prime brokers
The Asset 20 Jan 2022

Deutsche Bank (DB) has successfully transferred clients, technology and 900 key staff from its global prime finance and electronic equities businesses to BNP Paribas.

The successful two-year-long global integration was completed as of the end of 2021.

The combined unit, along with a recently announced referral of clients from Credit Suisse, is set to propel BNP Paribas into the top tier of prime brokers – alongside the likes of Goldman Sachs, JP Morgan and Morgan Stanley.

“By leveraging the strengths of our integrated platform, BNP Paribas is well-positioned to be the leading European prime services player on the global stage,” says Olivier Osty, head of global markets, BNP Paribas.

Rebecca Short, chief transformation officer, Deutsche Bank, adds: “With the completion of this complex transition on schedule, Deutsche Bank has achieved a key milestone in its ongoing transformation that is seeing it re-focus its business to become sustainably profitable.”

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