BNP Paribas dodged the worst of the subprime crisis by limiting its exposure to securities linked to US real estate loans. With an equity derivatives business ranked as one of the best in the world, and having secured Bank of America’s prime brokerage unit in June, FOW spoke with Nick Tranter, European head of flow sales, equities and derivatives
FOW: What impact will taking Bank of
America’s prime brokerage have on your
Nick Tranter: BNP Paribas’s acquisition of Bank
of America’s prime brokerage business demonstrates
our commitment to investing in our global hedge fund
business. It adds over 500 new clients to our existing
client portfolio and asset balances, as well as providing BNP
Paribas with an enhanced capability of offering a full service
in prime brokerage, with a global reach to existing and new
Has there been one section of your business that has
been more affected than another by the market
We benefited significantly from a pick up in volatility
levels and trading volumes caused by the crisis. Given our
financial strength, we also benefited from a counterpart
perspective, with clients looking for strong trading
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