A deal in the works for BNP Paribas to assume the prime brokerage operations of ...
) will involve the transfer of up to 800 people, a person with knowledge of the matter said on Friday.
Deutsche Bank said in July it had struck a preliminary agreement with BNP covering the business that serves hedge funds as part of its 7.4 billion euro overhaul, but details on personnel and the timing of any final deal were being hammered out. The person, speaking on condition of anonymity, said the agreement may be finalised in coming weeks, confirming a report in the Financial Times.Deutsche Bank, which has said it aimed to conclude the effort this year, is eager to clinch a deal sooner rather than later to “provide continuity of service” to its clients.
Some clients have already left Deutsche in the meantime and Barclays is looking to take on a $20 billion portion of Deutsche’s prime brokerage business, sources told Reuters last month.Most of the staff affected are based in London and New York. A successful deal with BNP will mean Deutsche won’t have to pay redundancy for those individuals as it seeks to shed around 18,000 from its payroll globally.
Reporting by Tom Sims in Frankfurt and Inti Landauro in Paris; Editing by Michelle Martin and David Holmes
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Huawei Discussed Iran Business With Citi and BNP Paribas, Court Documents ShowNew details about the U.S. sanctions-busting case against Huawei Technologies emerged in court filings in Canada, including about the Chinese telecom giant’s alleged dealings in Iran, Syria and Sudan.
Leer más »
Deutsche Bank tightens worldwide procedures on new hires: memoDeutsche Bank , in the midst of a major restructuring and headcount reduction, i...
Leer más »
SEC fines Deutsche Bank $16 million to settle foreign corruption chargesDeutsche Bank has agreed to pay more than $16 million to settle charges that it ...
Leer más »
U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption chargesDeutsche Bank has agreed to pay more than $16 million to settle charges that it ...
Leer más »
Wells Fargo Pays Navajo Nation $6.5 Million In ‘Predatory’ Lawsuit SettlementThe bank continues to deal with fallout from a years-old scandal.
Leer más »
Wells Fargo Pays Navajo Nation $6.5 Million In ‘Predatory’ Lawsuit SettlementWells Fargo will pay the Navajo Nation $6.5 million to settle a lawsuit, in which the tribe accused it of “predatory and unlawful practices” by lisettevoytko
Leer más »