BNP Paribas has detailed a reshuffle of senior leadership at its corporate and investment banking (CIB) division, effective from 1 January 2027, according to an internal memo seen by Reuters. The French bank is creating an integrated Investment Banking platform bringing together Sectors, M&A, Debt Markets and Equity Capital Markets, to be co-led by George Holst and Renaud-Franck Falce, BNP said.
Olivier Osty, chief executive of the CIB division, told staff in the message that the reorganisation would reaffirm the central importance of roles overseeing client relationships. The revamp comes as European banks try to compete with bigger Wall Street rivals, whose investment units have largely outperformed in the first half of the year, Reuters reported.
WHO MOVES WHERE
Frédéric Legmann, currently global head of banks and intermediaries coverage, will become chairman of Banks & Insurance and senior adviser to the group chief executive.
Geert Lippens, currently head of CIB EMEA countries, is appointed head of CIB EMEA to strengthen regional governance. Osty said the changes also aim to strengthen the bank's leadership in Europe, the Middle East and Africa and to manage CIB resources better across regions.
BNP did not immediately reply to a request for comment, Reuters said.
A STRONG QUARTER FOR THE DIVISION
The changes come after a strong third quarter of 2026, in which group net banking income stood at €13,757m, up 9.5% on the third quarter of 2025. BNP reports the division as Corporate & Institutional Banking (CIB); its revenues rose by 16.6% to €5,201m in the quarter, and it generated pre-tax income of €2,250m, up 35.2%. Over the first nine months, CIB net banking income reached €15,725m, a rise of 9.0% on the same period of 2025.
Global Banking turned in a solid quarter, the bank said, with revenues of €1,615m, up 8.4% on the third quarter of 2025. It confirmed its leadership in EMEA over the nine months, ranking first in several debt segments and second in EMEA securitisation, with a market share of 8.9%.
Global Markets revenues rose by 21.9% to €2,674m in the quarter, close to the high reached in the first quarter, while Equity & Prime Services revenues climbed by 50.0% to €1,459m on strong client demand across the full range of equity products. Securities Services revenues rose by 17.6% to €912m, driven by the onboarding of new clients and strong business momentum.
THE TGB VIEW
BNP Paribas leads Europe in the TGB Bank Rankings, which are ranked by total assets, with US$3.28tn of assets at December 2025, and is seventh in the world, but its return on equity of 9.7% for 2025 trails second-placed HSBC Holdings at 11.2%. The division being reorganised made pre-tax income of €2,250m in the third quarter of 2026, up 35.2%, and its new leadership takes charge on 1 January 2027. The next marker is the 2030 Plan, which the bank said will be presented on 2 February.
Related: BNP Paribas hired two managing directors for UK advisory expansion
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn