If you thought internships at US banks were the only ones with hundreds of applicants per role in New York, you’d be mistaken. BNP Paribas, which had a rather successful second quarter, has been trying to establish itself as the tier one European bank, and its internship application figures reflect that ambition.
A spokesperson for BNP Paribas informed eFinancialCareers that BNP’s 2024 Americas summer internships had more than 37,000 applications for just 168 positions. This gives the French bank an acceptance rate of 0.4%, or an average of around 220 applicants per position.
Globally, Goldman Sachs has an application acceptance rate of 0.95% for 3,000 internships, while JPMorgan has an acceptance rate of 0.81% for 4,000. Figures are not known for the two banks’ acceptance rates for Americas internships specifically.
It’s also worth noting that applications per role, may not necessarily mean applicants per role, as individual students can apply to more than one internship. Trackr data suggests that students looking for internships in banking make 68 applications each on average, though it’s not clear how many applications they make per company.
BNP says that, including off-cycle internships, it had 39,490 applicants for 173 positions. This would mean its winter internships had roughly 2,490 applicants for just five roles, a 0.2% acceptance rate. Take that as a warning if you think missing summer intern application deadlines will be fine because ‘there’s gonna be off-cycle internships anyway.’
Read the story on eFinancialCareers: A European bank has more exclusive internships than Goldman Sachs and JPMorgan
Combining traditional investing techniques with AI technology, new Index provides comprehensive view of cross-asset market trends built on millions of data points
SÃO PAULO & SAN FRANCISCO & NEW YORK — BNP Paribas, Europe’s leading global bank, and QuantumStreet AI, a global leader in the field of AI-powered investment solutions, are today announcing the launch of a proprietary new BNP Paribas Cross Asset Trend and AI Index in Brazil with global plans.
The BNP Paribas Cross Asset Trend and AI Index is designed to combine traditional trend-based investing techniques with the AI-powered approach of trend-following signals powered by QuantumStreet AI, which are designed to identify cues that might otherwise be missed to allow for the targeting of optimal allocations across global asset classes. The strategy underpinning this Index captures a broad range of available information by leveraging both past data and forward-looking indicators via AI analysis. QuantumStreet AI utilizes IBM watsonx as the foundation for its generative AI platform.
By incorporating BNP Paribas’ proprietary trend analysis, leveraging its award-winning indexing capabilities and QuantumStreet AI’s renowned machine learning models for institutional investors, the index aims to provide a comprehensive view of cross-asset market trends, including equities, fixed income, and commodities and across geographies covering equities and bonds in the U.S., Europe and Japan. The BNP Paribas Cross Asset Trend and AI Index will be used to provide the basis for global structured products being made available to BNP Paribas’ clients, offering investors a unique perspective and way to access market trends and emerging opportunities.
XP, a leading, technology-driven platform and provider of financial products and services in Brazil, offers the BNP Paribas Cross Asset Trend and AI Index on its platform, providing investors with diversified financial products that are at the forefront of global innovation.
Adil El Batji, Head of Global Equities, Americas at BNP Paribas said, “BNP Paribas’ collaboration with QuantumStreet AI highlights the bank’s commitment to fostering innovation and exploring new avenues for enhancing investment strategies. This collaboration brings together the knowledge of two industry leaders to provide clients with cutting-edge quantitative investment solutions that leverage data-driven insights to optimize portfolio performance and transform the investment landscape.”
Chris Natividad and Subhra Tripathy, Principals at QuantumStreet AI added, “We are thrilled to be working with BNP Paribas on the introduction of this new Index. It is ever so important to identify and harness consistent sources of return within a systematic framework, and AI driven approaches provide a solid basis for that. We look forward to strengthening our relationship and serving the bank’s global client base.”
Raj Datta, Vice President, ISV and AI Partnerships, IBM added, “Collaborating with QuantumStreet AI enables institutions to access AI-driven investment solutions with watsonx. Such relationships are a way forward for rapid innovation and to build trusted AI.”
Victor Vallim, Head of Structured Note Distribution and Partner at XP said, “We are confident in the work we are doing with BNP Paribas and QuantumStreet AI regarding the BNP Paribas Cross Asset Trend and AI Index, which offers innovation and capability into a single product. The low volatility of the index generates optimal conditions for access through XP’s Structured Notes, which can have the potential to provide high minimum rates of return or elevated leverage over a predefined period. This characteristic creates the variety of structures that could benefit different client profiles throughout the ecosystem.”
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
About QuantumStreet AI
QuantumStreet AI is an IBM Business Partner focused on fintech and a leading global provider of AI powered investment solutions. Combining latest AI methodologies with deep financial domain expertise it develops and deploys differentiated investment strategies. Its proprietary platform continually models 60,000 securities around the world, processing vast amounts of structured and unstructured data in twelve global languages. QuantumStreet partners with the world’s leading institutions to jointly develop investment products that are distributed in every continent.
www.quantumstreetai.com
About BNP Paribas Cross Asset Trend and AI Index
For additional information and relevant disclaimers, please click here.
Press Contacts:
BNP Paribas:
Claire Schiff
claire.schiff@us.bnpparibas.com
BNP Paribas Brazil:
NOVA PR
imprensa.bnpparibas@novapr.com.br
QuantumStreet AI:
Chris Sullivan
chris@craftandcapital.com
New York, March 11, 2024 – BNP Paribas, Europe’s leading global bank, today announces the appointments of two senior level executives to its Global Banking unit within the Corporate & Institutional Banking (CIB) group:
Steven Coburn is appointed to Head of Consumer & Retail, North America. Steve was previously with Wells Fargo, where he spent 24 years in Investment Banking, most recently leading the group’s efforts in the Food & Beverage sector. Before that, he spent time at Bear, Stearns, Inc. and Accenture. Steve received a BA from the University of South Carolina and an MBA from the Kellogg School of Management at Northwestern University.
Edward Witz is appointed to Head of Industrials, North America. Ed was previously at Barclays Investment Bank for 16 years most recently as Global Head of Automotive, and before that at Credit Suisse for eight years. He has also worked at Lehman Brothers and Goldman Sachs, with a focus on Industrials & M&A. Ed received his BA from Colgate University and his MBA from Northwestern University.
Both Steve and Ed will report to Chris Blum, Head of Corporate Clients Group and Sectors & Advisory, North America. The team will be responsible for driving the growth of the investment banking and corporate banking coverage teams within their respective sectors with a particular focus on the Trans-Atlantic Corridor.
George Holst, Global Head of Corporate Clients Group and Sectors & Advisory at BNP Paribas, said:“The Trans-Atlantic corridor is essential to BNP Paribas’ global strategy and a focal point of our group. Many of our clients are based in the Eurozone and want access to the deep, US markets, so it is imperative we continue to build on our capabilities and strengthen the platform, which today’s appointments do. By further expanding our banking services in the Americas, which is one of our main goals in our 2025 plan, we can more efficiently serve our clients across our many businesses.”
Chris Blum, Head of Corporate Clients Group and Sectors & Advisory, North America at BNP Paribas, added: “We warmly welcome Steve and Ed to BNP Paribas and look forward to working with them to build upon the strong platform already in place in North America. Drawing upon over 50 years of combined experience, they will help their teams raise the bar in sectors critical to our regional and global growth ambitions. In addition, their wealth of knowledge will be invaluable as we continue to strengthen our leadership capabilities and deliver on our strategy within the region.”
BNP Paribas CIB group is a globally recognized leader offering Corporate and Institutional clients capital markets, securities services, financing, treasury and advisory solutions, among others. The group operates in 53 countries with over 20,000 clients and 38,000 employees worldwide. The bank’s Corporate Clients Group (CCG) is a global team that brings together the Corporate Coverage, Industry Groups, M&A, and local Advisory teams. CCG is responsible for strengthening the dialogue and connections between its corporate clients and giving them sectorial and transactional content, along with access to the full range of Group banking and non-banking solutions. CCG leverages its global network with a local presence, giving clients, many headquartered in the US, access to the global markets.
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Press Contacts:
Guy Taylor
+1 (332) 323-3704
guild.taylor@us.bnpparibas.com
Mylene Benmoussa
+1 (646) 322-5221
mylene.benmoussa@us.bnpparibas.com
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
Creates Up To 50 Full-Time Professional Jobs In South Florida
Miami, FL, December 6, 2023 – BNP Paribas Securities Corp., a unit of Europe’s leading bank BNP Paribas, today announces the official opening of its new Miami location with a ribbon cutting ceremony complete with speeches from national, state and local elected officials, Miami area trade groups, French trade and government representatives, senior BNP Paribas officials and staff, and others.
BNP Paribas also hosted a tour of its fully completed offices and in celebration of Art Basel Miami Beach art fair, currently being held in Miami, had an unveiling of the office’s artwork created by Najja Moon, a rising local Miami artist supporting strong diversity, equity and inclusion ideals.
José Placido, Chief Executive Officer of BNP Paribas USA and CIB Americas, said: “Today’s Miami office opening expands our business in the US, notably our global markets business, and supports our global growth ambitions. Adding Miami as a key location for our corporate and institutional banking business will be an important part in getting closer to our many clients in the South Florida area and servicing their needs more efficiently.”
Matt O’Connor, Head of the BNP Paribas Miami office, said: “We’re very happy to officially open our brand new office in Miami today. I want to thank everyone who’s helped BNP Paribas make this happen, including elected officials, trade groups, architects, BNP Paribas staff, and many others. We look forward to this new beginning, with a sustainably designed office and also developing a bigger partnership with the vibrant greater Miami community.”
BNP Paribas Securities Corp.’s Miami office is the latest example of the firm’s efforts to create best-in-class platforms and products for its increasing numbers of Miami-area clients, and focuses on equities, credit, and macro Global Markets products.
BNP Paribas has committed to invest into its Miami office project, creating up to 50 new, full-time, highly-specialized professional jobs in South Florida over the next year. The new location will accommodate staff and visiting clients with nearly 7,700 rentable square footage and is located at 801 Brickell Avenue in Miami’s financial hub.
Miami-Dade County Mayor Daniella Levine Cava, said: “BNP Paribas choosing Miami to open its newest office reinforces our community’s status as a top financial market within the global economy. We’re proud to work with partners like the Miami-Dade Beacon Council to not only attract leaders like BNP Paribas to our market, but also help them tap into local talent and engage in our thriving business ecosystem. We look forward to having another of the largest banks in the world call Miami-Dade home.”
Rodrick Miller, President & CEO, Miami-Dade Beacon Council, said: “BNP Paribas’ expansion to Miami is a direct outgrowth of our long-standing relationship with France, French companies and the French people. On our most recent mission, we heard consistently that Miami is the market where French companies are investing and want to be, and our relationship with Latin America and the Caribbean sealed Miami as the clear choice for BNP Paribas, Europe’s largest bank. This expansion is an important addition to our global finance sector, and we look forward to helping them source talent and engage deeply with Miami-Dade’s thriving business ecosystem.”
Raphaël Trapp, Consul General of France in Miami, said: “The opening of an office of BNP Paribas in Miami is excellent news for the economic ties between France and Florida. It is, above all, a good indicator of the dynamism that characterizes business in South Florida thanks to the work done jointly by private and public partners for several years. Should this economic trend continue over time, it would allow the expansion of BNP Paribas’ office and the creation of more qualified jobs in Miami. It would also consolidate the position of France which is, currently, in the top 4 of foreign employers in Florida with more than 400 companies and 32, 700 jobs created by French companies.”
Annabelle Ballot-Pottier, Executive Director of the French-American Chamber of Commerce Florida, said:
“The French-American Chamber of Commerce Florida is proud to celebrate the opening of BNP Paribas’ office in Miami, a significant symbol of economic recovery and the major role played by Florida in transatlantic exchanges. The entire team at FACC Florida is excited to see the French business community continue to thrive.”
As BNP Paribas continues to pursue and execute on its growth ambitions in the region, the Miami campus will integrate seamlessly with the bank’s other offices in New York City, NY, Jersey City, NJ, and Chesterbrook, PA, outside Philadelphia, each with their own strong identity.
BNP Paribas employees are empowered to do their best work and be supported with active lifestyle amenities offered in the new office. The office features modern spaces, technology and a beautiful, natural environment.
Dawn Gunter, Office Director and Principal at Gensler Miami, said: “The new BNP Paribas is a testament to the resiliency of office in 2023 and beyond. The space is an investment in the South Florida marketplace, and above all, it underscores the firm’s commitment to serving their clients and supporting their talent. The Gensler Miami team is proud to have partnered with BNP Paribas to design this new workplace and demonstrate how thoughtful design can foster innovation and deepen client relationships.”
In January 2023, BNP Paribas announced its intentions to open a Miami office, and in August 2023, the bank appointed Matt O’Connor as Head of its new Miami office and Annabella Espina the Chief Operating Officer (COO).
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Press Contacts:
BNP PARIBAS
Guy Taylor
+1 (332) 323-3704
Guild.Taylor@us.bnpparibas.com
Mylene Benmoussa
+1 (646) 322-5221
mylene.benmoussa@us.bnpparibas.com
About BNP Paribas in the US
BNP Paribas is a premier global banking partner and has built a strong and diversified presence and product suite in the United States (US) to help serve its clients in today’s changing world. The bank employs over 3,500 people in the US across 10 states including Miami, FL. Large corporate and institutional clients are served by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a wide international reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management as well as Real Estate and Fleet Services through partnerships. www.usa.bnpparibas.com
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
New York, November 14, 2023 – BNP Paribas announces the appointment of several senior executives within its Global Banking business, building out advisory and solutions capabilities in the Americas to support the growth ambitions of its global client base particularly large Multi-National Corporates (MNC) and further aligning its global banking platform:
Chris Blum is appointed Head of Corporate Clients Group North America to drive additional expansion of the client franchise and growth of the Sectors & Advisory teams. Chris continues shared oversight of the Americas Financial Sponsor Coverage Group.
Vanessa Dager joins as Head of Advisory North America to lead M&A franchise development. Vanessa brings more than two decades of M&A and investment banking experience, most recently at Wells Fargo and Credit Suisse. Vanessa started her career in various investment banking roles at Citigroup and Stern Stewart.
Mark Lynagh and Adnan Zuberi are appointed Co-Heads of Global Capital Markets Americas, and Mark is additionally appointed Global Head of Investment Grade Finance. Mark will relocate from London to New York, and primarily focus on Investment Grade Finance, Leveraged Finance & Equity Capital Markets, while Adnan will primarily focus on Asset Finance & Securitization across Real Assets & Securitized Products Group.
Evan Riley joins as Head of Equity Capital Markets Americas to lead the expansion of the platform as a part of the cash equities growth plan in the Americas. Evan brings 17 years of ECM experience at UBS Investment Bank where he most recently oversaw several sectors.
Erin Brown returns to New York from London as Head of Leveraged Finance Americas to lead the continued development of the franchise with both corporate and financial sponsor clients. Erin rejoins the Americas platform following 11 years in Leveraged Finance EMEA, most recently as Deputy Head of EMEA Leveraged Finance Syndicate.
Richard Meth is Head of Commercial Real Estate Americas within Asset Finance & Securitization and launches the CRE financing and securitization activities in the region, building on the bank’s leading real estate franchise in Europe. Richard has over two decades of experience, most recently leading US CRE financing at Deutsche Bank and prior at JPMorgan Investment Management.
Alexandre Barjon is appointed Head of French Corporates in North America. Alexandre joined the US platform from the bank’s head office in Paris where he was the Chief of Staff to the Chairman of CIB. His mandate is to develop the business with the bank’s French clients in North America.
Urs Waschkeit is appointed Head of German Corporates in North America. Urs will be relocating from Hamburg, Germany, where he was Head of Corporate Coverage for Northern Germany, to join the US platform and develop the business with German clients in North America.
Andy Strait is now Vice Chairman of US Corporate Banking in EMEA. Andy recently moved from New York, where he was one of the most senior bankers in the Americas, to Paris with a directive to represent the CIB Americas franchise in EMEA and will act as a senior US representative with US MNCs, and as an ambassador for the bank’s US business with EMEA clients.
José Placido, Chief Executive Officer of BNP Paribas USA and CIB Americas, said: “These appointments build on the significant progress we’ve made in aligning our global banking business across the Americas, EMEA and APAC to accelerate the execution of our international strategy. We welcome the whole team to the Americas region and the worldwide team, and look forward to this exciting next phase of our platform’s development.”
Matthew Salvner, Head of Global Banking Americas and Head of Global Credit Americas at BNP Paribas, said:“The expansion of our global banking capabilities in the Americas is a central pillar of our CIB growth plans for 2025 and beyond. These new appointments will enable us to better serve our clients around the world and continue to drive growth in both our Global Banking and Global Markets platforms.”
BNP Paribas CIB group is a globally recognized leader offering Corporate and Institutional clients capital markets, securities services, financing, treasury and advisory solutions, among others. The group operates in 53 countries with over 20,000 clients and 38,000 employees worldwide. MNCs are companies with business operations in at least one other country other than its home country and generates substantial revenues abroad.
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Press Contacts:
Guy Taylor
+1 (332) 323-3704
guild.taylor@us.bnpparibas.com
Mylene Benmoussa
+1 (646) 322-5221
mylene.benmoussa@us.bnpparibas.com
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
Stefan Slowinski, Global Head of Software Research from BNP Paribas Exane, joins BNN Bloomberg TV’s “Hot Picks” for a tech update:
By Zoe Wickens, Employee Benefits
Bank and financial services firm BNP Paribas has introduced a surrogacy assistance programme and enhanced its fertility benefits for its US staff.
The firm’s new surrogacy assistance programme is aimed at supporting and empowering US-based employees who are using surrogacy to start or expand their families. They are now eligible for surrogate related expenses and will be reimbursed for up to a maximum of $10,000 (£7,892) per eligible child.
In addition, BNP Paribas has enhanced its fertility benefits in order to recognise that fertility support and family-planning are high priorities for some of its workforce. Its medical plans have been updated to include coverage for social preservation, elective egg freezing and storage with no medical condition requirement, embryo or egg retrieval and accumulation that no longer requiring the depletion of previously stored embryos, and fertility preservation and storage of embryos increasing from 12 to 24 months.
According to the firm, it made these additions to its US benefits programme as part of its recognition that the journey of parenthood can take many paths and the importance of the wellbeing and happiness of all of its employees. By offering these, it hopes to help alleviate some of the challenges that can arise during this personal journey that is unique to everyone.
Claudine Gallagher, head of human resources for corporate and institutional banking (CIB) Americas at BNP Paribas, said: “Creating a robust benefits programme that is inclusive of the needs of our employees and their families is an important component of how we invest in our people. To support our employees their families, I am excited to announce the launch of our surrogacy assistance programme and enhancements to our fertility benefits. These new announcements are a symbol of our commitment towards creating an inclusive and supportive workplace for all employees.”
BNP Paribas enhances US fertility and surrogacy benefits – Employee Benefits
Stefan Slowinski, BNP Paribas Exane Software Analyst, joins CNBC TV anchor Frank Holland for their show “Worldwide Exchange” where they discussed AI, enterprise applications, Alphabet, Microsoft, and Salesforce among others.
Please see the replay link here.
Marianne Thiery appointed as CAO and CCO for BNP Paribas USA and CIB Americas
New York, NY, April 13, 2023 – BNP Paribas, Europe’s leading financial services institution, today announces the appointment of José Placido as CEO of BNP Paribas USA and Jean-Yves Fillion to the position of Vice-Chairman of the BNP Paribas USA Board of Directors. Both appointments are effective April 1 and follow the completion of the sale of the group’s US retail unit Bank of the West completed on February 1, as well as recognition of Corporate & Institutional Banking (‘CIB’) now being the primary business line within the US organization.
José will assume the role of CEO of BNP Paribas USA, the bank’s US holding company, and will oversee all US-business activities. He retains his role as CEO of CIB Americas.
Jean-Yves in his new role as Vice-Chairman will serve as executive sponsor to many of the bank’s most strategic US clients and will also continue to represent the BNP Paribas Group with external stakeholders.
Alain Papiasse, Executive Advisor to General Management, Chairman of CIB and Chairman of the Board, BNP Paribas USA, said: “I want to congratulate José and Jean-Yves on their new positions. I look forward to the continued successes of our US operations under José’s leadership, especially our CIB businesses. The strength of our business model and the deep expertise of our teams have delivered very strong results to date and we are well positioned to continue to gain market share through the development and deployment of our ambitious GTS 2025 plan in the region. Jean-Yves will continue to provide valuable counsel to our US organization and the wider BNP Paribas Group in his new role. Jean-Yves’ many successes in serving as CEO of BNP Paribas USA since 2016, including overseeing both our wholesale and retail operations and guiding our very significant upgrades to our infrastructure and regulatory standing over these past years, are greatly appreciated.”
In addition, BNP Paribas appoints Marianne Thiery to the roles of Chief Administrative Officer (CAO) and Chief Compliance Officer (CCO) for BNP Paribas USA and CIB Americas, effective April 1. In the role of Chief Compliance Officer, she will succeed Emmanuelle Bury, who has been appointed BNP Paribas UK Country Head. Marianne will report to José and to Stephanie Maarek, Head of Compliance for the Group. In the newly created role of CAO for BNP Paribas USA and CIB Americas, Marianne will incorporate an enhanced coordination and oversight over compliance, regulatory and legal matters.
In the US, BNP Paribas employees over 3,500 employees and operations in New York/New Jersey, San Francisco, Boston, Chicago, Denver, Washington, DC, and several other major cities including a new Miami office opening soon. The group is a leading European bank in the US for corporations and institutions, with its CIB unit a globally recognized leader offering capital markets, securities services, financing, treasury and advisory solutions, and a presence in 55 countries. The bank also operates a successful and growing Asset Management business in the US. The US platform is part of a wider BNP Paribas Americas presence with 8,000 employees and significant presence in Canada, Brazil, Mexico, Colombia, Chile, Peru and Argentina.
Press Contacts:
Guy Taylor
+1 (332) 323-3704
Guild.Taylor@us.bnpparibas.com
Robert Madden
+1 (917) 287-8501
Robert.Madden@us.bnpparibas.com
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
This bi-lateral agreement between the two groups will provide commercial banking clients with continuity of service, leasing services and global coverage
[CHICAGO / PARIS / TORONTO] – [February 21, 2023] – BMO Financial Group (“BMO”) and BNP Paribas announce today a long-term commercial agreement and new cross-border framework to enhance coverage and access to a global network for their commercial banking clients. They will also enter into a comprehensive leasing services partnership. As part of this collaboration agreement, both banks will continue to provide, and expand on international services offered to clients.
The agreement follows BNP Paribas’s sale of Bank of the West to BMO that closed on 1 February 2023. This cross-border commercial agreement will ensure continuity of services for commercial banking clients and a focus on existing international commercial clients shared between BNP Paribas and Bank of the West (now part of BMO). The agreement will also seek to boost future referrals for clients looking to access BNPP’s extensive multi-country European and Asian presence and /or BMO’s deep, and now expanded network in the US, and Canada. BMO will retain the Bank of the West Multinational Client Platform team to deliver world-class service to new referrals and continuity for Bank of the West’s international clients.
“This agreement combines the strengths of BMO, a top-five commercial banking provider in North America with an international presence and capability, with those of BNP Paribas, the leading bank in the Eurozone. The result is a powerful coordinated coverage model that provides our clients with access to more opportunities across Canada and the US, and globally,” said Dan Marszalek, Co-Head, US Commercial Banking at BMO. “We are committed to fueling the growth of our commercial banking customers and enabling them to make progress toward their business goals.”
“Our agreement with BMO Financial Group will allow us to provide our commercial banking clients with seamless cross-border cooperation and offer their clients access to our international footprint across over 65 countries. This includes Cash Management and Leasing Solutions, two of our leading activities in Europe. This agreement will complement our Corporate and Institutional Banking activities in North America to which BNP Paribas remains committed,” said Caroline Pez-Lefevre, Deputy Chairwoman of One Bank for Corporates at BNP Paribas. BMO and BNP Paribas will also create a significant player in the equipment finance space through a trans-Atlantic partnership between BNP Paribas Leasing Solutions and the BMO Vendor Finance division. This collaboration will offer new and existing vendor partners access to end-to-end asset financing services including floorplan financing, point of sale and vendor leasing solutions.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.14 trillion as of October 31, 2022 and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 190,000 employees, including nearly 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance, Arval and Leasing Solutions; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
Press contact BMO
Mridula Rajagopal
773-664-3680
Press contacts BNP Paribas
Guy Taylor
guild.taylor@us.bnpparibas.com
+1 332-323-3704
Servane Costrel de Corainville
servane.costreldecorainville@bnpparibas.com
+ 33 (0)6 74 81 98 27