BNP Paribas and Bank of America have signed an agreement under which up to $2bn (€1.7bn) of assets managed on behalf of some wealth management clients of Bank of America will be transferred to BNP Paribas.

The accounts in question are all non-US and are currently managed by Bank of America's global wealth and investment management division. They will be transferred to BNP Paribas' US-based wealth management affiliate, BNP Paribas Investment Services.

BNP Paribas in wealth management deal with BofA

Anuj Gangahar in New York

BNP Paribas

Bank of America

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