BNP Paribas has merged its credit derivatives and secondary credit bond trading businesses into a single unit to be headed by Farid Amellal.

The bank is reorganising its trading business, after a period of expansion in credit derivatives, in an attempt to boost revenues and improve its risk profile.

BNP Paribas combines credit derivatives and bond trading

Vivek Ahuja

BNP Paribas

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Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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