BNP merges desks
BNP Paribas has announced the integration of its credit derivatives and secondary bond trading businesses into a single unit to be headed by Farid Amellal, formerly global head of credit derivatives. The move is an attempt to increase revenues and improve the risk profile of its trading business, following a period of expansion in the credit derivatives business.
Amellal will now oversee the secondary trading of high-grade, high-yield and emerging market corporate bonds. The global
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