BNP Paribas to reinforce Global Equities leadership in Europe

Rick Steves

Acquiring Exane, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will reinforce BNP Paribas’ position as a leading provider in Global Equities.

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BNP Paribas has announced plans to acquire up to 100% of Exane, raising its stake from the 50% currently held.

Both companies have engaged in a successful 17-year partnership, but the French bank is now contemplating the transaction as part of its strategy to strengthen the range of cash equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally.

Acquiring Exane, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will reinforce BNP Paribas’ position as a leading provider in Global Equities.

Yann Gérardin, Deputy COO and Head of Corporate and Institutional Banking, BNP Paribas, said: “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.”

Olivier Osty, Head of Global Markets, BNP Paribas, commented: “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.”

Nicolas Chanut, CEO of Exane, said: “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.”

Chief Executive Officer Jean-Laurent Bonnafe is preparing a new strategic plan that aims to boost revenue at the securities unit and streamline retail operations as

The Covid-19 pandemic has accelerated a shift toward online banking as well as came as an incentive for further consolidation within the sector. The deal is expected to further expand BNP’s equities unit after the integration of Deutsche Bank’s business with hedge fund clients.

Exane has reported revenue of 346.3 million euros and net income of about 22 million euros for the year 2019. Most of its revenues come from its cash equities operation, which is already an exclusive partnership with BNP Paribas.

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