BNP Beefs Up U.S. Investment Bank, Goldman Fallout

Derelict House

BNP Paribas plans to expand its corporate-finance activities in the U.S. as it aims to secure better access to North American investors and strives to offset weak activity in core European markets, people familiar with the matter said.

The Wall Street Journal reports that BNP Paribas is preparing to hire at least 100 to 200 people at its investment bank in the U.S., as part of a new expansion plan in North America that could be formally announced later this year, these people said.

The extra workforce could allow BNP Paribas to increase its U.S. investment-banking revenue by $1.33bn in the next two to three years, one of the people said.

Finally, The New York Post reports that nothing destroys a friendship like the botched renovation of a $10.5m Manhattan town house.

Goldman Sachs honcho R. Martin Chavez slapped interior designer and former pal Aaron Kirsten with a $5.1m lawsuit for failing to complete an overhaul of his five-bedroom, 4,300-square foot spread in the Village.

Kirsten told The Post that Hurricane Sandy ruined him and that he would like to 'make amends' with his former friend.

BNP Paribas Sets Expansion in U.S. (subscriber content)

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