BNP Paribas is expanding its London-based financial institutions group by recruiting five new hires to bring the team up to 18.

Shyam Mehta joins the financial institutions group's management committee and will work closely with the BNP Paribas equity and fixed income derivatives groups to develop strategic insurance products for institutional clients. He has over 25 years experience in the insurance and pensions industry and was previously a partner in the insurance practice of Watson Wyatt.