BNP Paribas has recruited Sam McGairl from HBOS as part of a drive to expand its business in the secondary market for leveraged loans, often used by private equity companies to finance acquisitions.

McGairl, who will be based in London, joins BNP Paribas' European loan syndications and trading group, which comprises 46 bankers in London, Paris and Madrid. He will focus on secondary market business, reporting to Stephane Bavarez, head of secondary trading at BNP Paribas in Paris.