Fixed-income reorg for BNP

It will split the business into two areas: marketing and trading. Frederic Janbon is to be global head of trading, and will be responsible for all risk-taking business in foreign exchange, rates and credit.

The new set-up replaces a structure where the division was split into three areas: forex rates and credit.

David Brunner is to relocate to London from New York, and will be co-head of marketing with joint responsibility for all client-facing business with Paul Hearn. The three will report to

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