Veteran Paribas staffer Jacques d'Estais has been named as the man to pull together BNP Paribas' demoralised credit group as part of a reshuffle prompted by the departure of Andrew Pisker.

Pisker, deputy head of fixed income and the man widely credited with establishing Paribas as a major player in Europe's primary bond markets, is joining Dresdner Kleinwort Benson (DrKB).