BNP Paribas has hired a former head of European M&A at Barclays to lead its UK corporate banking business team.

The French bank has named Matthew Ponsonby as head of UK corporate banking, a newly created role in its corporate and institutional banking business, according to a statement. The bank, which is celebrating 150 years in the UK this year, said it had identified the country as one of four target markets in which it wants to expand.