NEW YORK, June 28, 2004 (PRIMEZONE) -- BNP Paribas announced today the establishment of a Fixed Income institutional sales desk in San Francisco through its broker/dealer, BNP Paribas Securities Corp. The new institutional sales operation will be dedicated to providing the Bank's wide range of debt products and services to clients based in the Western U.S. Ken Austin, a Director in BNP Paribas' Credit Derivatives business, based in New York, will move to San Francisco to head the new operation.
In commenting on the announcement, Austin stated, "By establishing a regional Fixed Income institutional sales presence on the West Coast, we continue to build our client franchise while providing a higher level of service to existing clients. We specifically plan to service asset managers, insurance companies, state funds and corporations with a broad base of fixed income products. These products will include cash corporate bonds, credit default swaps, repurchase agreements, structured product and private placements, as well as interest rate products involving Treasuries, Agencies, TIPS and derivatives." (BNP Paribas has ranked No. 2 in Europe, and No. 3 globally, for its inflation-linked products capabilities, as published by Risk Magazine.)
In addition to Austin, the institutional sales group will include the immediate addition of two new salespeople to the three-person team. Deborah Kelley joins as a Director, most recently from ABN Amro Bank where she was the Managing Director of their Fixed Income Sales desk. Deborah brings significant expertise in fixed and floating rate agency and corporate bonds, credit derivatives, ABS, CMBS, asset swap packages and private placements in various currencies. Prior to that, she was at Kemper Securities and Dean Witter Reynolds, respectively.
Jonathan Saunders also joins BNP Paribas as an Associate from Banc One Capital Markets where he was a Fixed Income Sales Associate serving as the sales team's primary contact for governments and agencies, as well as support for corporates and asset-backed debt. Prior to Banc One, he was a Fixed Income Sales Analyst for Salomon Smith Barney.
Kip Testwuide, responsible for BNP Paribas' debt capital markets and distribution activities in North America, commented on the firm's overall objectives stating, "the establishment of a regional sales office on the West Coast, in addition to our Fixed Income sales presence in New York and Chicago, is part of a comprehensive effort to increase our investor coverage in the U.S."
BNP Paribas stated it plans to make additional hires to the San Francisco team.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United Sates and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking.
Headquartered in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered NASD broker-dealer and member of SIPC, BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products. In the U.S., BNP Paribas offers retail banking and financial services through BancWest Corporation, a wholly owned subsidiary.
For more information, please contact: Janine M. Mejeur-Haas, Director, Corporate Communications -- US Tel: (212) 841-3070 e-mail: janine.mejeur-haas@americas.bnpparibas.com Melissa Sherer, Press Officer -- NY Tel: (212) 841-3809 e-mail: melissa.sherer@americas.bnpparibas.com Lesley Gordon-Mountian, Corporate Communications -- San Francisco Tel: (415) 772-1518 e-mail: lesley.gordon-mountian@americas.bnpparibas.com