BNP Paribas is reorganising its global fixed income and foreign exchange business by splitting the division into trading and marketing in a move that will lead to a significant shake-up in senior management.

The French bank is collapsing its existing structure, under which it divides its activities into three separate asset classes: interest rates; foreign exchange; and credit.

Vivek Ahuja

BNP Paribas

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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The London-based bank said it is well on its way to achieving the target of returning at least $8 billion to shareholders over the three years ending in 2026.

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The pact imposes a baseline tariff of 15% on the U.S.’s biggest trading partner.

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The lender forecast total income excluding notable items to exceed $21.61 billion as loan growth and structural hedges continue to mitigate the impact of interest-rate cuts.

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Company points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.

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The leaders of America’s chip giants cheered the president’s artificial intelligence orders, which could help boost the domestic semiconductor industry.

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The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

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CME Group’s second-quarter earnings and revenue rose sharply as the derivatives-exchange operator benefited from a surge in trading activity due to market volatility.

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The Italian bank lifted earnings and shareholder-distributions guidance after reporting better-than-expected profit, looking to turn the page on its aborted takeover bid for its smaller peer.

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U.S. stock futures pointed to a flat open after a mixed session on Wall Street Monday, while international equity markets were also mixed so far Tuesday as earnings season sweeps into full gear.

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BNP Paribas revamps fixed income

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