BNP Paribas has appointed its head of global equities and commodity derivatives (GECD), Yann Gérardin, to succeed Alain Papiasse as the bank's head of corporate and investment banking (CIB).
Papiasse, deputy chief operating officer for the BNP Paribas Group, will represent the group's general management in North America, particularly in terms of implementing the bank's remediation plan and new regulatory requirements, in addition to supporting the development of CIB.
In his new role, Gérardin will have responsibility for implementing the 2014-2016 development plan and continuing the process of adapting CIB to its environment. He will take on his new role on October 1, reporting to Papiasse. Both men will remain in Paris.
Jean-Laurent Bonnafé, chief executive officer at BNP Paribas, said Gérardin has proven his managerial capability.
"He has helped make BNP Paribas GECD a global leader in the equity derivatives industry," he said.
Gérardin joined BNP in 1987 to create the equity derivatives business, and was appointed global head of equity derivatives for the newly created BNP Paribas in 1999. At the beginning of 2005, Gérardin took over responsibility for the entire BNP Paribas equities and derivatives division, to which the commodity derivatives activity was added later that year, and became a member of the BNP Paribas Group Executive Committee.
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