BNP Paribas's ( OTCQX:BNPQY ) ( OTCQX:BNPQF ) ( OTCPK:BNPZY ) research arm will expand its coverage of U.S. stocks from 180 currently to more than 450 stocks by 2025 as the French bank has now fully integrated its 2021 acquisition of U.S.-based Exane, it said Tuesday.
The expansion of stock coverage across the Technology, Media, and Telecommunications; Consumer; Healthcare; and Industrial sectors will include increasing the number of analysts, sector specialists, traders, sales traders and salespeople it employs.
"The launch of BNP Paribas Exane in the U.S. underscores the bank’s commitment to the Americas region as a key marketplace for the Corporate and Institutional Banking division," said José Placido, CEO of BNP Paribas CIB Americas. "Equities research will not only strengthen our global markets offering to institutional clients, but it will also support the bank’s ambition to further develop its Equity Capital Markets and M&A business as the leading European partner for corporates worldwide."
To mark the full integration of Exane with BNP Paribas ( OTCQX:BNPQY ), BNP Paribas Exane's U.S. employees transferred last week to the BNP Paribas Tower in New York City and the bank's office in San Francisco.
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BNP Paribas Exane to hire more staff to expand U.S. stock coverage