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BNP's prime brokerage deal with Deutsche may transfer 1,000 staff; NEWS

Sep 24, 2019 - City A.M.

A DEAL to transfer Deutsche Bank's prime brokerage business to BNP Paribas could see up to 1,000 staff move from the German lender to the French bank.

The two banks said yesterday they had reached an agreement to smooth the transfer of the business, which serves hedge funds. The deal is a pillar of Deutsche's restructuring.

Under the agreement, Deutsche would continue to operate the platform for global prime finance and electronic equities clients until the customers can be migrated ...