BNP Paribas has restructured and given a new mandate to its Corporate and Institutional Banking (CIB) division, previously called Corporate and Investment Banking (CIB). This new CIB is centred on two client franchises corporates and institutionals, the bank said.

The revamp of the division is aimed at serving institutional clients with a comprehensive range of solutions and will see BNP Paribas Securities Services coming under the governance of the new CIB, while remaining a separate legal entity.

This new CIB also aims to promote dialogue between institutional and corporate clients, thanks to a more collaborative and efficient structure, which will facilitate the implementation of the group's business development plan.

Yann Gérardin, head of BNP Paribas CIB, said that the reorganisation responds to the need to align the bank with a new market reality whereby business models are being industrialised, rationalised and digitalised. "The banking industry has changed dramatically, and not only in terms of regulations," he said. "Clients are expecting us to serve them holistically with added-value and industrialised solutions. Our new CIB focusing on our two client franchises of corporates and institutionals will allow us to meet their expectations more simply and more efficiently. And it will also reinforce our capacity to achieve our development plans as announced earlier this year."

Governance structure
To support this strategic initiative, BNP Paribas has made a number of appointments which will be effective from January 5.

In addition to his role as head of BNP Paribas CIB, Yann Gérardin will manage directly the bank's global markets division. Olivier Osty, formerly Gérardin's deputy head in the global equities and commodity derivatives (GECD) team, has been appointed head of sales, structuring and trading, reporting to Gérardin. From now on, the bank's capital markets business line heads will report to Osty.

In the regions, Pascal Fischer has been appointed head of EMEA capital markets to coordinate the global markets jurisdictions and manage key transversal projects. He reports to Yann Gérardin; Pierre Rousseau has been appointed head of APAC capital markets, reporting to Gérardin and Eric Raynaud. Bob Hawley, who is now head of Americas capital markets, will report to Gérardin and Jean-Yves Fillion, who has been appointed head of the Americas for CIB.

The French bank has also appointed Thomas Mennicken as head of corporate clients financing and advisory EMEA under the supervision of Thierry Varène, who has been named chairman of corporate clients financing and advisory EMEA. Varène will maintain the steering responsibility of the commercial activities for the largest clients while Mennicken will maintain his current responsibilities at BNP Paribas Fortis CIB.

Reporting to Mennicken are Yannick Jung, who has been appointed head of corporate coverage EMEA; Bruno Tassart who has been appointed head of financing solutions EMEA; and Sophie Javary, who will take the role of head of corporate finance EMEA.

Additionally, Marc Carlos has been appointed head of country management and corporate trade and treasury solutions EMEA, but will maintain his responsibility at group level as head of the global USD clearing and payment business line. Varène and Carlos, in his EMEA role, will report to Gérardin while Mennicken will report to Varène.

In the new governance structure, Henri Foch will be the head of financial institutions coverage globally and will report to Gérardin. Patrick Colle, who continues as chief executive officer of BNP Paribas Securities Services, will also report to Gérardin.

In the context of BNP Paribas setting up global markets, headed directly by Gérardin, the bank agreed with Frédéric Janbon that he would be appointed special adviser to the group general management.

Regional approach
In addition, to simplify the regional approach, the North and Latin America regions and the Europe and Middle East & Africa (EMEA) regions have been combined to create two larger regions: Americas and EMEA. The APAC region remains unchanged.

In EMEA, BNP Paribas has established a simpler organisation to service corporate clients, taking in corporate clients financing and advisory EMEA on one side, and country management and corporate trade and treasury solutions EMEA on the other side.

BNP Paribas CIB said this new governance will strengthen its existing strong franchises in transaction banking, specialised financing, derivatives, advisory and capital markets.

Global institutional clients
In order to provide institutional clients a wider access to BNP Paribas CIB's products and services, and to position the bank as their strategic partner, the solutions provided by BNP Paribas CIB will now be structured around a newly created global markets section, which will provide an offer across all asset classes, building on global business lines, financing and prime services capabilities, and regional franchises. A solid presence in the regions will be key to support BNP Paribas CIB's regional development plans. BNP Paribas Securities Services will continue offering its current spectrum of solutions and will remain a separate legal entity with its own commercial and operational autonomy.

The bank will also offer global coverage for all CIB and other group businesses across all institutional client segments through its financial institutions coverage unit.

EMEA corporate clients
For its corporate clients and in line with the creation of the EMEA region, BNP Paribas CIB has grouped the activities dedicated to the corporate clientele into two business lines, including corporate clients financing and advisory EMEA which will bring all of BNP Paribas CIB's expertise to address the investment and financing needs of CIB's corporate clients including all types of coverage, the financing businesses and corporate finance; and the country management and corporate trade and treasury solutions EMEA which will deliver a transversal and industrialised platform for the bank's corporate clients' flow banking needs. This group will include energy and commodities finance Europe, trade and banking flow, cash management, corporate deposit line, trade and deposit product development.

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