BNP Paribas' Steinberg to head equity derivatives for the Americas

Todd Steinberg, previously deputy head of equity derivatives, Americas, at BNP Paribas in New York, has been promoted to head of the team, sources close to the French bank told RiskNews' sister publication, Structured Products Extra .

He succeeds Amine Belhadj, who is relocating to London as global head of commodity derivatives. Jean Marc Bonnefous, currently head of commodity derivatives, will take on the new role of marketing and business development with the commodities group.

The move is part of a wider reorganisation of the bank's derivatives operations. Earlier this month, Christian Kwek, head of UK equities and equity derivatives at BNP Paribas in London, left the firm. A spokeswoman was unable to give the reasons for Kwek's departure at the time and could not comment on whether he is due to move elsewhere. Kwek has been replaced in London by Shaun Wainstein, previously head of equity derivatives structuring.