French banks to hire in derivs, debt

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Reports suggest that both BNP Paribas and Société Générale are preparing to add staff.

The Financial Times reports today that BNP Paribas is planning to increase the number of people in its UK equity derivatives business by 20% to tap rising demand from hedge fund and private banking clients.

Separately, Fnancial News reported earlier this week that French bank Société Générale is planning to increase the number of staff in its debt and commodities division by 15% this year.

Grégoire Varenne, global head of debt and commodities at SG said the expansion would focus on improvements to the bank's distribution capability, particularly in the German and Nordic regions, improvements to hedge fund business, and development of the flow business.

SG is also looking to build its US commodities presence.

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