BNP Paribas reorganises corporate investment banking division, memo says

MILAN, Nov 3 (Reuters) - France's BNP Paribas detailed on Tuesday a reorganisation of its corporate and investment banking (CIB) activities effective January 1, 2027, an internal memo seen by Reuters showed.

• Olivier Osty, chief executive of the CIB division, said in the message to staff that the reorganisation would reaffirm the central importance of roles overseeing client relationships

• The changes also aim to strengthen the bank's leadership in Europe, the Middle East and Africa (EMEA) and better manage CIB resources across regions, Osty said

• BNP did not immediately reply to a request for comment

• Frédéric Legmann, currently global head of banks and intermediaries coverage, will become chairman of Banks & Insurance and senior adviser to the group CEO

• Olivia Frieser, current head of global markets Southeast Asia, will move to Paris to become global head of the Banks and Intermediaries client sector

• Geert Lippens, currently head of CIB EMEA countries, is appointed head of CIB EMEA to strengthen regional governance

• BNP said it was creating an integrated Investment Banking platform bringing together Sectors, M&A, Debt Markets and Equity Capital Markets

• The new Investment Banking business will be co-led globally by George Holst and Renaud-Franck Falce

• Holst will continue to steer Corporate Coverage and Falce to oversee the newly created Structured Finance business

• BNP is creating a global Technology, Energy and Digital Infrastructure sector under Séverine Mateo

• To best manage internal budgets, Osty will chair a new CIB Resources Steering committee

(Reporting by Valentina Za. Editing by Mark Potter)