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People: BNP Paribas to take RBS staff in structured products deal

The French bank will house up to 600 RBS staff after winning auction; SG CIB provides new CEO for Newedge; US futures business at Deutsche gets new boss; JP Morgan promotes divisional CFOs; SGX splits regulatory and risk roles

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Up to 600 employees at Royal Bank of Scotland (RBS) will move to BNP Paribas as part of the purchase of a £175 billion structured products and equity derivatives portfolio by the French bank, which saw off 30 other bidders to win the RBS business. The deal was first reported by Risk’s sister publication, Structured Products, but as of December 1 had not been officially confirmed by either bank.

The terms of employment for the RBS staff are not clear, but recruiters say there is likely to be some

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