National Bank of Canada and BNP Paribas have announced a joint venture that sees BNP Paribas buy a stake in National Bank of Canada managed accounts subsidiary Innocap Investment Management. Both parties intend the venture to become the leading global provider of managed accounts, and BNP Paribas said it will facilitate the creation of a new generation of structured products, while completing the bank’s alternative funds offering. “Innocap offers a powerful platform with fully-fledged high-tech