BNP Paribas shakes up investment bank management, memo says

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

The revamp comes as European banks try to compete with bigger Wall Street rivals, whose investment units have largely outperformed in the first half of the year.

• 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

• 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 to be co-led by George Holst and Renaud-Franck Falce

(Reporting by Valentina Za in Milan and Mateusz Rabiega in Gdansk. Editing by Mark Potter)