BNP Paribas hired a veteran trading MD of mysterious provenance after some exits
Last year, various people left BNP Paribas' equities trading team. This year, it has already recruited someone new.
The new person is Nigel Fenn, a veteran trader who's been in the market since at least 2001 (when the FCA Register has him at HSBC). Possibly longer. Nigel has also worked for Merrill Lynch, UBS and BTIG. But since 2023 he's been AWOL for regulatory purposes.
BNP Paribas declined to comment on Nigel's most recent occupation or his appointment. It's understood that he is joining the French bank as a managing director with a broad base.
BNP's equities departures in 2025 included the likes of Katrina Pattemore, a senior equities trader with a level of experience equivalent to Fenn. Last September, BNP hired Alex Ford, Citi's head of block trading.
Equities traders have had a good quarter. BNP Paribas has yet to report its first quarter results, but with the exception of JPMorgan US banks achieved 20%+ year-on-year revenue growth.
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