Morgan Stanley and BNP Paribas have hired senior executives for a part of their business structuring complex equity products — which is one of the top-performing segments of the banking industry this year.

BNP Paribas has hired Sophie Franklin, a managing director at Deutsche Bank who spent over 15 years at the German lender, as head of strategic equity London, according to sources with knowledge of the move. She will report into Xavier Mengin, global head of strategic equity and will join in October.