Deutsche Bank to transfer up to 800 to BNP Paribas in prime brokerage deal

Pedro Gonçalves
clock • 1 min read

Deutsche Bank is set to transfer up to 800 staff and its hedge fund-servicing prime brokerage unit to BNP Paribas in a deal expected to be worth tens of billions of euros. A formal agreement is expected to emerge in the coming weeks with Deutsche's clients set to receive letters outlining the practical implications of the transfer, according to the FT.  The deal, if advances, will see the transfer of "tens of billions of euros of assets" to the French firm, sources familiar with the matter told the publication. The move follows a preliminary agreement signed by the two entiti...

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