BNP Paribas plans to add two senior people to its 15-strong London team covering British M&A and take on an equity capital markets banker too, part of a plan to boost its investment banking market share outside France, banking executives told Reuters.
The news agency reports that the volume of merger and acquisition (M&A) deals involving British companies has fallen by 58% to $162bn this year due to uncertainties around Britain’s vote this summer to quit the European Union, according to Thomson Reuters data.
However, BNP senses this tide is turning.
“Brexit creates uncertainty, but also new opportunities, which is manifest today by a pickup in (M&A) activity,” said Eric Jacquemot, head of Corporate Finance for the UK at BNP Paribas CIB, in an interview.
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