New York / Paris – BNP Paribas is pleased to announce the launch of its new Global Synthetic Prime sales and trading group within its Equities and Derivatives business. BNP Paribas is deeply committed to serving hedge funds across the range of equity derivatives products, including equity finance, and has developed this new group to ensure that client’s needs are met more effectively.
The Sales group’s mandate is to market global synthetic equity finance products including equity swaps, portfolio swaps, contract for differences, structured financing transactions and stock loan and equity execution services to hedge funds. It will also be deeply involved in selling the prime brokerage international platform. The group is headed by Rich Sansaricq who is based in New York and has the responsibility of coordinating the synthetic prime business through a global sales team covering hedge funds in New York, London, Tokyo and Hong Kong.
Rich Sansaricq joined BNP Paribas in 2006 as head of equity finance sales in the US. During his tenure, he has successfully launched and developed BNP Paribas’ synthetic portfolio swap and equity swap platforms in the US. He will continue to report to Todd Steinberg, head of equities and derivatives in the Americas, and to Eric Deudon, global head of equity finance and prime services.
Commenting on the launch, Steinberg said, “We have tremendous capabilities in the synthetic business including our AA+ credit rating, substantial balance sheet, excellent systems/operations, strong derivatives and equity cash execution, and deep hedge fund relationships. By creating this global group under Rich’s leadership, we are certain to deliver our capabilities more effectively.”
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, and ranks among the world’s top 15 banks by market capitalization. It has more than 150 000 employees, 15,000 of whom are based in the United States. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.
Edwina Frawley, Media Relations, New York +212-841-3719
Kerrie McHugh, Media Relations, New York +212-841-3809
Michele Sicard, Head of Corporate Communications +212 841 3070