BNP Paribas Contraction Continues, Scales Back Commodity Trading Operations

by Jeff Patterson
  • BNP Paribas SA is reportedly cutting its commodity-trade finance operations, to Trafigura Beheer BV, prompting a further outflow of personnel, bankers, and executives to other trading houses.
BNP Paribas Contraction Continues, Scales Back Commodity Trading Operations
BNP Paribas logo

BNP Paribas SA is reportedly cutting its commodity-trade finance operations to Trafigura Beheer BV, prompting a further outflow of personnel, bankers, and executives to other trading houses.

Just last week, BNP Paribas revealed that it was shutting down its prop-trading desk in London, following suit with Societe General just last month. 2014 has been unkind to banks, namely BNP, who had to pay a record fine just two months ago for violating US sanctions.

Trafigura is a multinational group specializing in commodity trading and other instruments, with offices in 58 countries worldwide. According to executives from Trafigura in a recent statement to Bloomberg, “The move is part of a broader exit from the business by France’s biggest lender.”

The personnel exodus from BNP has been a lingering trend over recent years – this includes longtime executive Christophe Salmon, who joined Trafigura as its Chief Financial Officer for Europe, the Middle East and Africa (EMEA) after a lengthy tenure at BNP.

BNP Paribas logo

BNP Paribas SA is reportedly cutting its commodity-trade finance operations to Trafigura Beheer BV, prompting a further outflow of personnel, bankers, and executives to other trading houses.

Just last week, BNP Paribas revealed that it was shutting down its prop-trading desk in London, following suit with Societe General just last month. 2014 has been unkind to banks, namely BNP, who had to pay a record fine just two months ago for violating US sanctions.

Trafigura is a multinational group specializing in commodity trading and other instruments, with offices in 58 countries worldwide. According to executives from Trafigura in a recent statement to Bloomberg, “The move is part of a broader exit from the business by France’s biggest lender.”

The personnel exodus from BNP has been a lingering trend over recent years – this includes longtime executive Christophe Salmon, who joined Trafigura as its Chief Financial Officer for Europe, the Middle East and Africa (EMEA) after a lengthy tenure at BNP.

About the Author: Jeff Patterson
Jeff Patterson
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About the Author: Jeff Patterson
Head of Commercial Content
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