Up to half of all London equities employees at BNP Paribas, the French bank, have left or been relocated to new posts following the merger with Exane, the independent French brokerage.

No more than 70 of the roughly 200-strong BNP Paribas equities staff in the UK have secured positions within the new Exane BNP Paribas company, according to a source close to BNP Paribas.