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BNP Paribas transfers 900 Deutsche Bank staff as prime services deal completes

The French bank is making a push into equities as European rivals scale back

BNP Paribas is one of the few European investment banks still pushing into prime services in the wake of the collapse of family office Archegos Capital, which has cost the sector over $10bn
BNP Paribas is one of the few European investment banks still pushing into prime services in the wake of the collapse of family office Archegos Capital, which has cost the sector over $10bn Photo: Theo Giacometti/Getty Images

BNP Paribas has shifted 900 Deutsche Bank staff across to its business as it draws a line over the acquisition of the German lender's shuttered prime services and electronic equities business.

The French bank has now completed the transfer of technology, employees and clients related to Deutsche Bank's prime finance and electronic equities unit, the two banks said in a statement.

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