BNP Exane quietly said goodbye to some more senior people
It's been five years since BNP Paribas full ingested Exane. Senior Exane people are still vanishing from the combined franchise in London.
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The latest two disappearances are understood to have worked for Exane for a combined 20 years. Will Fairley, the bank's head of hedge fund coordination is understood to be leaving. So too is Dan Smith, a senior equity sales trader.
Neither Smith nor Fairley responded to a request to comment for this article. BNP Paribas didn't respond to a request to comment either. However, multiple sources confirmed their exits. It's thought that they may still be at their desks while they work their notice periods.
BNP Paribas reported its first quarter results in late April and revealed a 6% year-on-year in equities and prime services revenues, which it said were "very strong." Nonetheless, it's thought that costs are being trimmed.
Smith and Fairley are not the only BNP equities leavers. It's understood that Imogen Gregory, a junior equities analyst, has been bid away and is joining North Rock.
Various other Exane people have also vanished from BNP. They include Jonathan O'Keefe, the head of sales trading and execution prime brokerage relationships, who went last May and Brian Gallagher, the former head of European execution, who is now at JPMorgan in New York.
Exane has long focused on high touch cash equities and market leading research, while BNP Paribas was traditionally a derivatives house.
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