Deutsche Bank to Transition Prime Brokerage and Electronic Equities Franchise to BNP Paribas

As part of their largest business overhaul in the last decade, Deutsche Bank has confirmed its agreement with BNP Paribas to transition its largely US-based prime brokerage and electronic equities businesses. The German multinational investment bank said that BNP Paribas will ensure continuity of service to its prime finance and electronic equities clients, with plans to transfer technology and staff to BNP Paribas in due course, according to The Trade News. The agreement with BNP Paribas remains subject to various approvals.