BNP Prime Brokerage Goes Global

Jul 27 2011 | 12:39pm ET

BNP Paribas has officially unveiled its global prime brokerage platform three years after buying Bank of America's prime brokerage business.

The French bank has spent those years expanding the former BofA unit's coverage from the U.S. to Europe and Asia. The growing platform now offers clients margin financing in 13 currencies and 31 markets.

"We wanted to come to market with a multifaceted platform that is global in nature and seamless in execution so we've designed it from the bottom up," Sam Hocking, head of global sales at BNP, said. "In looking at the bigger picture, we have created a platform that will anticipate the global needs of our clients."

BNP's prime brokerage, which already employs 350 people, plans to add staff in the U.S. Asia, and Europe over the court of the next year.

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