(Reuters) - BNP Paribas (EPA:BNPP) SA has appointed several senior executives to its Global Markets Americas division, the European bank said on Wednesday, in a move to further consolidate its presence in the United States.
The French bank appointed former Morgan Stanley (NYSE:MS) executive Kunal Maini as the co-head of Global Macro - Americas and he will be responsible for globalizing the US Rates franchise.
In addition, BNP also hired a string of executives to strengthen its credit portfolio at a time when global fixed income markets have come under immense pressure from soaring inflation and outsized interest rate hikes.
John Hanisch was appointed the co-head of Secondary Credit Americas and Global Head of Securitized Products Trading; Charlie Shah the Head of IG & CDS Trading Americas and Bo Bazylevsky the Head of LatAm Flow Credit Trading.
The bank also hired Michael Rietbrock as the Head of Research within the bank's Global Equities business; Robert McDonald as Head of Strategic Equity Solutions and Equity-Linked Origination; John Gallo as the Head of Global Markets Americas and named Nadim Siddique the Head of Strategic Equity Derivatives Trading within the bank's Global Equities business.
BNP's move to hire across divisions sharply contrasts global banks including HSBC Holdings (LON:HSBA) PLC and Goldman Sachs (NYSE:GS), which axed jobs to rein in costs.