Monique Cohen, the former head of equities at Paribas before it was acquired by Banque Nationale de Paris last year, has quit the firm. Her departure means almost the entire senior management of Paribas' former equities division has left the firm since the merger.

Cohen, 43, was promoted to head the equities division last year, after an apparent power struggle with Tony Bourne, who left abruptly after 12 years. It is understood that Cohen, who was head of corporate relationships, was seen by management as a better choice, depending on who won the takeover battle. Her appointment coincided with a wave of departures after the actual acquisition by BNP.