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BNP Paribas's global head of ECM is moving to a new job and the bank has hired a bulge bracket banker, aiming to expand its franchise in the business.
Andreas Bernstorff, who had been head of ECM for Germany and Austria at Citigroup for the last 10 years, joined BNPP yesterday as head of ECM.
Thierry Olive, global head of ECM in Paris, is to move to another job at BNPP.
Bernstorff's mandate is the European business, which constitutes the great majority of BNP Paribas's ECM activity. There will be no new head of global ECM for the time being.
Reporting to Bernstorff will be Thierry Petit, head of equity-linked debt, and Igor Donnio, head of ECM France.
Another new hire joined the team on January 2: Guy Marks, a former JP Morgan banker who resigned from Canaccord last August and has joined to build up BNPP's UK business.
Petit has been running BNPP's successful equity-linked business for some time. Last year, after London-based Alain Dib, head of European ECM, left to become chief operating officer at Waha Capital, Petit was promoted to also run the London ECM platform,...