Senior BNP Paribas energy traders quit; bank denies downsizing
Two senior BNP Paribas energy traders in New York have left, but the Paris-based bank said on Monday it was not downsizing its U.S. commodity and energy businesses.
Keith Shoemaker, managing director of North American natural gas trading, and William Hartz, head of financial oil trading, have resigned, BNP Paribas’ head of commodity derivatives Catherine Flax told Reuters.
The report also cited the August resignation of Dora Sung, BNP Paribas’ head of commodities trading for the Americas, and the earlier departures of two other senior commodity team members, including Marc Fontaine, former head of commodity derivatives.
BNP Paribas’ Flax said the report gave the impression that the bank was downsizing its commodities and energy desk in New York, but noted “that’s not the case at all”.
“For sure, we’re expanding and we’re in a growth mode. There are a number of ways to expand the business and that includes adding clients and adding personnel,” she said, without elaborating.
Source: Reuters
Related Posts
BNP asks other banks for help as dollar clearing ban nears
BNP Paribas to pay a $350 million fine for illegal conduct in Forex trading- Agreement with RBS confirms BNP Paribas’ commitment to Cash Management and Trade Finance in Europe and internationally
BNP pleads guilty for second time in $9 billion U.S. sanctions accord
Global Banks report their results
