BNP Paribas is transferring Jean-Marc Bonnefous, global head of commodity derivatives, from New York to London, as it seeks to better coordinate the activities of its main operating hubs.

The decision to relocate him follows significant growth in the commodity derivatives business at BNP Paribas over the past two years. London is the most geographically-central of the French bank's three commodity derivatives hubs. The other two are New York and Singapore.