Following on from their preliminary agreement,
BNP Paribas and Deutsche Bank have signed a master transaction agreement to
provide continuity of service to Deutsche Bank’s Global Prime Finance and
Electronic Equities clients. Under the agreement, Deutsche Bank will continue
to operate the platform until clients can be migrated to BNP Paribas.
The two firms will work closely together to ensure a seamless transition for
clients, through the migration of technology and key staff from Deutsche Bank
to BNP Paribas. This binding agreement
remains subject to regulatory approvals from the relevant authorities.
“We are pleased to have signed the master
transaction agreement with BNP Paribas on schedule. This is an important
milestone for our Capital Release Unit and attests to the strength of our
client offering and technology in these products. We are already making
progress and are on the right track to implement this transaction and provide
certainty for clients and staff,” said Frank Kuhnke, Chief Operating Officer, Deutsche
Bank.
“I’m excited to announce the signing of this
agreement, thanks to the close cooperation between BNP Paribas and Deutsche
Bank teams. We are now looking forward to welcoming staff and serving these new
clients. This agreement demonstrates BNP Paribas’ strong commitment to
institutional investors globally,” said Yann Gérardin, Deputy Chief Operating
Officer and Head of Corporate and Institutional Banking, BNP
Paribas.
About European cash equity execution and Exane BNP Paribas
Exane BNP Paribas is the natural partner for BNP Paribas as the Bank expands its Global Markets and Global Brokerage businesses, and it will continue to be the Bank’s European cash equity execution partner.Over the past 15 years, Exane BNP Paribas has built up an exceptional European brokerage with a number 1-ranked research franchise, a top-quality execution platform including a market-leading electronic trading team and strong relationships with institutional investors.
In the context of this agreement with Deutsche Bank, Exane BNP Paribas and BNP Paribas will work together to develop a high quality, market-leading and client-focused execution and advisory franchise.
