Clients, technology, and key personnel from Deutsche Bank’s Global Prime Finance and Electronic Equities divisions were successfully transferred to BNP Paribas by the end of 2021, as planned.
Strong communication between the teams of both organizations, as well as complete backing from BNP Paribas and Deutsche Bank management, drove the successful global integration. Approximately 900 employees from Deutsche Bank have been transferred to BNP Paribas during the last two years.
Olivier Osty, Head of Global Markets and member of the Executive Committee at BNP Paribas said: “By leveraging the strengths of the integrated platform, BNP Paribas is well-positioned to be the leading European Prime Services player on the global stage, establishing the new standard in prime services and electronic equities for institutional investors and corporate clients across the world.”
According to Rebecca Short, Deutsche Bank’s Chief Transformation Officer and a member of the Management Board, “With this, Deutsche Bank has achieved a key milestone in its ongoing transformation that is seeing it re-focus its business to become sustainably profitable.”
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