BNP Paribas announces strategic appointments to its Derivatives Client Clearing business

6 June 2013

BNP Paribas Corporate and Investment Banking (CIB) is pleased to announce a number of strategic appointments to its ‘Derivatives Client Clearing’ business. These appointments, based in London and New York, demonstrate the bank’s continued investment in the OTC clearing and FX Prime Brokerage (FXPB) space, to support client requirements in the fast-changing regulatory environment.

BNP Paribas has been building out its OTC Clearing and FXPB platforms for the past two-three years and created a dedicated ‘Derivatives Client Clearing’ business-line in November 2012, to provide OTC Client Clearing, FX Prime Brokerage (FXPB) and CLS Third Party Clearing solutions to clients. Since then, the business has grown rapidly and has secured an increasing number of high-profile mandates in Europe and the US.

“We have already seen amazing growth in our domestic markets of France, Italy, Belgium and Luxembourg and expect this to continue as the regulatory timelines are finalised; as such, we will continue our investment in staff and the overall platform in line with our clients’ needs”, said Gavin Dixon, Global Co-Head of FI Clearing, based in London.

In London, the following appointments have been made to the Fixed Income Client Clearing Sales team, reporting to Marco Baggioli, Head of Client Clearing Sales in Europe and Asia:

Juha Sternberg joins BNP Paribas from Morgan Stanley, where he was the senior salesperson on their FXPB team. Prior to that, Juha spent eleven years at JP Morgan in FXPB and OTC Clearing.

Giorgio Cali joins the team from Barclays, where he spent three years as part of their sales effort across OTC Clearing & FXPB.

Within the Client Solutions team, Emma McGinty joins BNP Paribas to head up the FXPB client documentation. Emma previously worked in JP Morgan’s legal team, focusing on OTC Clearing & Intermediation, mostly for FX. Prior to that, she was at RBS for four years.

Muriel de la Fargue also joins from JP Morgan and will focus on supporting our client on-boarding efforts. Muriel spent almost nine years in a variety of middle office and client solutions roles across rates, credit and FX.

Both Emma and Muriel are based in London and report to Louisa Kwok, European Head of Client Solutions.

Diane Marsden joins BNP Paribas from JP Morgan to head up the newly formed Fixed Income Clearing middle office. Diane spent twelve years in various P&L and control roles and most recently headed up the rates PB and client clearing team. Diane reports to Christophe Mukerjee, Global Head of Credit & Interest Rate Operations.

Reporting to Diane, Grace Cole joins from Lamco Services Ltd, where she provided middle office support for the unwind of the Lehman derivatives portfolio. Prior to that, Grace had various middle offices roles at Deutsche Bank and Lehman Brothers.

In New York, Pierre-Emmanuel Pomes joins the OTC Clearing Product management team. He will work to enhance our product offer in line with client requirements and CCP offerings. Pierre-Emmanuel has been with BNP Paribas for six years, most recently as part of the Risk Investments & Markets team. Pierre-Emmanuel reports to Joe Buthorn, Global Co-Head of FI Clearing, based in New York.

Emmanuel Ramambason, Global Head of Fixed Income CVA Trading & Client Clearing commented:

“We now have a significant team of professionals dedicated to our ‘Derivatives Client Clearing’ platform and we are continuing to hire, invest and grow, which is not an industry trend in the current environment. These recent strategic appointments demonstrate our ongoing investment in the OTC Clearing and FXPB space and, as new regulation comes into effect, we are well-positioned to offer an enhanced global clearing service to our clients.”