Successful integration of the prime services & electronic equities platform

BNP Paribas and Deutsche Bank completed the transfer of Global Prime Finance & Electronic Equities to BNP Paribas.

BNP Paribas and Deutsche Bank announced that the transfer of clients, technology and key staff from Deutsche Bank’s Global Prime Finance and Electronic Equities businesses to BNP Paribas has been successfully completed by the end of 2021, in line with the targeted timeline to conclude the original three-year project in two years.

The successful global integration was driven by strong collaboration between the teams of both firms as well as full support from the management at BNP Paribas and Deutsche Bank. Over the course of the past two years, BNP Paribas has transferred approximately 900 staff globally from Deutsche Bank.

Olivier Osty, Head of Global Markets, BNP Paribas

“We are delighted to have completed this global migration on schedule, thanks to the hard work from the teams of both firms. By leveraging the strengths of the integrated platform, BNP Paribas is well-positioned to become the leading European Prime Services player on the global stage, establishing the new standard in prime services and electronic equities. This platform, along with the acquisition of Exane and the referral agreement to provide continuity of service to clients of Credit Suisse’s Prime Services and Derivatives Clearing business, enable BNP Paribas to offer Institutional and Corporate clients globally a strong alternative to the US banks in Prime Services and Global Equities,” said Olivier Osty, Head of Global Markets, BNP Paribas.

“The successful global integration of Deutsche Bank’s Global Prime Finance and Electronic Equities businesses to BNP Paribas marks a major milestone for our Equities business. Together with the acquisition of Exane and referral arrangement for Credit Suisse Prime Services customers, this integration complements BNP Paribas’ leading expertise in Global Equities, and will truly connect the needs of our Institutional clients with those of our Corporate clients,” said Yann Gérardin, Head of Corporate & Institutional Banking, and Chief Operating Officer, BNP Paribas.

Yann Gérardin, Head of Corporate & Institutional Banking, and Chief Operating Officer, BNP Paribas
Boris Leblanc, Global Head of CIB IT & Operations, BNP Paribas

“In terms of IT and Operations, the integrated platform has been one of the most complex projects in the banking industry over the past few years. This timely migration is a remarkable achievement and a leap in the continuous improvement and industrialisation of the BNP Paribas platforms. Not only does it demonstrate the accuracy of our architecture, but also the excellence and dedication of our global teams that remained fully focused, engaged and collaborative throughout the entire project,” added Boris Leblanc, Global Head of CIB IT & Operations, BNP Paribas.

Related solutions

Prime Solutions & Financing

A global and cross-asset platform for the clearing of listed and OTC products, execution of listed derivatives, prime brokerage services, securities financing through repurchase agreement (repo), and a market leading electronic execution provider. Prime Solutions & Financing (PS&F) is one of four banks globally offering a full suite of investor services, from trading to financing, clearing and custody, in partnership with BNP Paribas Securities Services.