BNP Paribas Looks To Acquire Exane03.11.2021
After a successful 17-year partnership, BNP Paribas is looking to acquire up to 100% of Exane*, raising its stake from the 50% currently held.
The contemplated transaction would further strengthen and widen the range of cash equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally.
This, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will position the bank as a leading provider in Global Equities.
“The long-standing and effective partnership with Exane provided our clients with superior access to the equity capital markets. We look forward to further enhancing our equities franchise and most actively supporting our clients as we join forces in an ever more integrated manner,” said Yann Gérardin, Deputy Chief Operating Officer and Head of Corporate and Institutional Banking, BNP Paribas.
“We’ve worked closely with Exane for 17 years, supporting its development into a top-ranked Research and leading European equities business. This is a natural evolution following our successful partnership, working together to deliver even deeper relationships with our clients. We really look forward to further strengthening the relationship with Exane in equities and derivatives”, said Olivier Osty, Head of Global Markets, BNP Paribas.
“This is an exciting new phase. Our long-term partnership with BNP Paribas has enabled us to invest in great people and technology to build a top European equities franchise. Our teams look forward to working even more closely with our BNP Paribas colleagues across Prime Services, Global Electronic Trading, Equity Derivatives and Equity Capital Markets to better service clients across the globe,” said Nicolas Chanut, CEO of Exane.
* The contemplated transaction will be subject to relevant shareholders, regulatory and competition approvals, and is also subject to the review of relevant works councils.
Source: BNP Paribas
This will bolster KKR’s capacity to serve as a full-service underwriter for IPOs.
Jamie Dimon said Latino-led businesses are critical to the U.S. economy but lack access to capital.
Due diligence process has not kept pace with the proliferation of algorithmic trading.
Jeffrey Solomon, chair & CEO of Cowen will lead TD Cowen, a division of TD Securities.
Turnover rose across all instruments except for currency swaps.