BNP Paribas launches global synthetic prime business

BNP Paribas has launched its global synthetic prime sales and trading group within its equities and derivatives business.

The sales group's mandate is to market global synthetic equity finance products including equity swaps, portfolio swaps, contracts for difference, structured financing transactions and stock loan and equity execution services to hedge funds. It will also be deeply involved in selling the prime brokerage international platform. The group is headed by Rich Sansaricq, who is based in New York, and has the responsibility of co-ordinating the synthetic prime business through a global sales team covering hedge funds in New York, London, Tokyo and Hong Kong.

Sansaricq joined BNP Paribas in 2006 as head of equity finance sales in the US. During his tenure, he launched and developed BNP Paribas' synthetic portfolio swap and equity swap platforms in the US. He will continue to report to Todd Steinberg, head of equities and derivatives in the Americas, and to Eric Deudon, global head of equity finance and prime services.