bnp paribas announces the launch of its global synthetic prime business
BNP Paribas is pleased to announce the launch of its new Global Synthetic Prime sales and trading group within its Equities and Derivatives business. BNP Paribas is deeply committed to serving hedge funds across the range of equity derivatives products, including equity finance, and has developed this new group to ensure that client’s needs are met more effectively.
The Sales group’s mandate is to market global synthetic equity finance products including equity swaps, portfolio swaps, contract for differences, structured financing transactions and stock loan and equity execution services to hedge funds. It will also be deeply involved in selling the prime brokerage international platform. The group is headed by Rich Sansaricq who is based in New York and has the responsibility of coordinating the synthetic prime business through a global sales team covering hedge funds in New York, London, Tokyo and Hong Kong.
Rich Sansaricq joined BNP Paribas in 2006 as head of equity finance sales in the US.
During his tenure, he has successfully launched and developed BNP Paribas' synthetic
portfolio swap and equity swap platforms in the US. He will continue to report to Todd
Steinberg, head of equities and derivatives in the Americas, and to Eric Deudon, global
head of equity finance and prime services.
Commenting on the launch, Steinberg said, “We have tremendous capabilities in the
synthetic business including our AA+ credit rating, substantial balance sheet, excellent
systems/operations, strong derivatives and equity cash execution, and deep hedge fund
relationships. By creating this global group under Rich’s leadership, we are certain to
deliver our capabilities more effectively.”
