Why Miami?
Many financial institutions are moving to Miami as the city increasingly turns itself into a leading corporate and financial services hub. Its robust infrastructure, business friendly environment and overall desired quality of life have helped cement the city’s reputation as an attractive destination for financial firms. Asset managers, including several high profile hedge funds, have opened offices in the area over the last few years, also enticed by the growing amount of investor capital available in South Florida. Additionally, the abundance of high- quality universities and an experienced workforce provides financial services firms with an excellent local talent pool.
As a result of this, BNP Paribas announced plans in 2022 to expand its presence in the US, by establishing an office in Miami – a key strategic location to serve its clients across the growing South Florida region. Just over a year later, the bank opened the doors to its brand-new office located at 801 Brickell Avenue, in the heart of Miami’s financial district.
At the outset, the Miami location will be focused on supporting the growing needs of BNP Paribas’ clients and the continued expansion of its Global Markets business, which is integral to its Corporate & Institutional Banking (CIB) Americas and overall global growth ambitions.
The office opening
To commemorate this important new chapter, BNP Paribas employees and senior management, including Jose Placido, CEO of CIB Americas & BNP Paribas USA, Olivier Osty, Head of Global Markets, and John Gallo, Head of Global Markets Americas & Global Head of Institutional Client Group, press and local officials, gathered at the new office for a ribbon-cutting ceremony.
Laura DiBella, President of Business Development at Florida Commerce, Former Secretary of Commerce, Raphaël Trapp, Consul General of France in Miami, Rodrick Miller, President & CEO, Miami-Dade Beacon Council, and William Porro, Assistant Director, Miami-Dade County, were also in attendance welcoming BNP Paribas to Miami’s financial community.
Under the leadership of Matt O’Connor as Head of the Miami Office, and Annabella Espina as COO, the new office serves as a key location, allowing the bank to be closer to the increasing number of clients in the southern region of the US, and to provide them with best-in-class service across its Global Markets product offering.
“We are very happy to officially open our office in Miami. I want to thank everyone who has contributed to making this happen. We look forward to this new beginning, with a sustainably designed office, and to developing a bigger partnership with the vibrant Miami community”, said Matt O’Connor, Head of the Miami office.
The ceremony also included the unveiling of a unique art piece created by local artist Najja Moon, which will be on permanent display in the office, setting the tone for BNP Paribas’ commitment to support Miami’s vibrant arts, sports and commerce scene.
The office space
The office space is 7,675 square feet and currently has 57 workspaces including 42 trading desks, 15 banking desks, a conference, lounge, two offices, and kitchen galley. It is designed in line with the layout of all of the bank’s locations, from New York to Philadelphia to Miami, to have common spaces, hospitality areas and workspace floors allowing employees to work comfortably.
“We’ve made great strides to build our offices to allow for operational excellence among staff by being agile and adapt to the new ways of working. The evolution of the workspace encourages inclusivity, and provides flexible workspaces where staff can meet and exchange ideas”, said Annabella Espina, COO, Miami office.
Bottom left: reception area, bottom right: office interior
‘Policy & Markets in the Year Ahead’ conference
In conjunction with the office opening, BNP Paribas hosted its third annual ‘Policy & Markets in the Year Ahead’ conference at Miami’s Scope Art Fair. John Gallo, Head of Global Markets Americas & Global Head of Institutional Client Group, welcomed the audience of over 85 clients, before a series of panels dived into how portfolio managers are navigating volatility, the past, present, and future of monetary policy, and the many considerations facing the Fed in 2024.
The impressive slate of experts sharing their thoughts at the event included financial historian Edward Chancellor, Jeanna Smialek of The New York Times, and James Bullard, former President and CEO of the Federal Reserve Bank of St. Louis.
“The conference was a great success and allowed us to showcase our expertise and deep market knowledge that will, without a doubt, further set the tone for our presence in South Florida. The commitment to our clients and servicing their needs more efficiently is key to our ambitions in Miami and beyond”, said John Gallo, Head of Global Markets Americas & Global Head of Institutional Client Group.
