by Carolina Mandl
NEW YORK (Reuters) – BNP Paribas will expand Exane, its equity market research and intermediation subsidiary, in the United States, the bank said on Tuesday.
BNP plans to increase Exane’s coverage of US companies to 450 stocks by 2025, up from 180 currently, primarily in the technology, media, telecommunications, consumer, healthcare and business sectors. industry, she said.
The group also intends to bolster its workforce with analysts, traders and salespeople, the bank said. The strategic plan calls for about 80 new hires by 2025, according to a person familiar with the matter.
Michael Rietbrock, who left Cantor Fitzgerald in October, joined Exane as head of US research, BNP said.
Last year, the bank acquired the balance of the capital of Exane that it did not yet hold, with the aim of expanding its range of equity services worldwide.
“The Americas region represents the biggest growth opportunity for us, due to the size of the commission pool and our current market share. That’s really where we want to grow,” Nicolas Marque told Reuters. , head of ‘global equities’ at BNP Paribas.
(Report Carolina Mandl; French version Elena Vardon)
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