Private equity and junior bankers were in the spotlight this week, as investment banks reported earnings that showed they are raking in record fees, and buyout merchants received promotions and were tapped up by rival firms.

French lender BNP Paribas promoted senior dealmaker Bertrand Valet to lead its financial sponsors coverage in Europe. He will report to Sandrine Ferdane, global head of financial institutions. Valet will be spending more time in London, as his previous role had him covering firms on the continent.