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BNP Paribas Adds to High Yield and Loan Sales, Trading & Analysis Capabilities

Bolsters US High Yield Platform and Expands European Leveraged Credit Secondary Capabilities

NEW YORK, NY -- (Marketwire) -- 11/19/12 -- BNP Paribas Corporate & Investment Banking (CIB) has recently added to its secondary High Yield and Loan capabilities with hires in the United States and Europe.

In the United States, Jack Gill and Chris Savinelli, previously at Citadel Securities, join as Managing Director and Director, respectively, on the High Yield Sales desk, reporting to Kevin Cook, Head of High Yield Credit Sales; Kurt Krestinski joins the High Yield Trading desk from Nomura as a Managing Director, reporting to Mike Dowdell, Head of High Yield Trading. These new hires follow the enhancement of BNP Paribas' analytical capabilities with the addition earlier in the year of three High Yield credit sector specialists: Lori Pomerantz, Murali Ganti and Shachar Minkove. Lori joined from Macquarie and covers Paper and Packaging; Murali joined from Nomura and covers Healthcare; Shachar joined from JP Morgan and covers TMT.

In Europe, Thomas Deininger, Laetitia du Bocage, Paul Mehta, and Jonathan Oakley join the Leveraged Credit Sales & Trading desks, part of plans to offer clients access to Loan Trading services alongside existing fixed income products. The Leveraged Credit Sales & Trading desk is a primary and secondary institutional sales, trading and analysis business. In addition, Julien Raffelsbauer joins the High Yield Analysis team as a Senior High Yield Sector Specialist covering Transportation, Shipping, Travel & Leisure and Business Services.

Mr Deininger and Ms du Bocage join from Morgan Stanley and Mr Mehta from Bank of America Merrill Lynch; all three will report to Robb McGregor, Head of Leveraged Credit Sales, based in London. Mr Oakley joins as a loan analyst from E. Öhman, the Scandinavian high yield fund manager and reports to Robert Lepone, Head of Leveraged Credit Trading, also based in London. Mr Raffelsbauer joins from Observatory Capital Management, reporting to Jean-Yves Guibert, Head of European High Yield Sector Specialists.

Commenting on the appointments, Kip Testwuide, Co-Head of Fixed Income, Americas, said, "As we continue to build our platform in the US, investing in our secondary High Yield capabilities enables us to provide US institutional investors with access to a wide range of leveraged credit products from around the globe."

In London, Benjamin Jacquard, Global Head of Credit Trading, said, "These appointments in our Leveraged Credit secondary platform at BNP Paribas are key additions to our existing capabilities, enabling us to provide trade ideas and risk management for clients across the capital structure, within and between sectors and in public and private companies."

Al Sinsheimer, Head of the Institutional Client Group, EMEA, said, "Originating High Yield and loan assets has been part of our overall origination platform for some time but, as a result of these hires, we are now stronger in the distribution and secondary trading of those assets which will support more cross-regional flow for our clients."

Notes to editors:
Kurt Krestinski joins BNP Paribas from Nomura, having spent the last 15 years trading and managing High Yield assets at various firm. He began his career at UBS Asset Management, where he was a Research Analyst and Co-Portfolio Manager of $2.5 billion in High Yield and Convertible assets. In 1999, Kurt moved to the sell-side at Bank of America, where he spent 10 years trading High Yield cash and CDS in the Telecom, Broadcasting, Publishing, Cable and Retail sectors. Over the past five years, Kurt held positions in High Yield Trading at Jefferies, Citadel Securities and Nomura.

Jack Gill has over 20 years' experience in leveraged finance and has worked in a variety of roles in research, sales, and trading over that time. He began his career as an analyst in the High Yield Research group at Credit Suisse. At Merrill Lynch, where Jack spent 14 years, he held positions in both High Yield Sales and Trading and was a top producing High Yield salesperson for his last five years there. In 2009, he was recruited to the newly formed, Citadel Securities, where he helped build the Credit business and co-run Leveraged Finance Sales.

Chris Savinelli worked at Moody's, Wasserstein Perella, Morgan Stanley, and Citadel Securities in both Sales and Research roles prior to joining BNP Paribas. At Moody's and Wasserstein, Chris covered several industries, including the telecommunications and auto industries. In 2002, he transitioned to sales at Wasserstein and continued his career in sales at Morgan Stanley, BTIG and Citadel Securities.

Thomas Deininger joins BNP Paribas from Morgan Stanley in the Loan Sales and Sourcing team, covering loan funds and banks based in Germany, Austria, Switzerland and Scandinavia. Prior to joining Morgan Stanley in London, where he worked for 8 years in a similar capacity, Thomas worked for Hypovereinsbank and Bear Stearns in London.

Laetitia du Bocage joins BNP Paribas from Morgan Stanley where she was a Vice President in the Leverage Credit team. She is a member of the High Yield Sales team covering the French and UK real money, hedge fund and CLO client base.

Paul Mehta joins BNP Paribas from Bank of America Merrill Lynch in the Loan Sales and Sourcing team covering loan funds and banks based in the UK. Prior to joining Bank of America Merrill Lynch, Paul was a loan portfolio manager at ABN Amro and Abbey National across Leverage Finance, Project Finance and Infrastructure portfolios.

Jonathan Oakley joins BNP Paribas from E. Ohman, a Scandinavian High Yield fund manager as a loan analyst on the credit trading desk covering performing and non-performing loans and bonds. Prior to joining E. Ohman, Jonathan worked on the buy-side as an analyst and portfolio manager with experience in fundamental credit analysis across a range of credit instruments, employing both long-only and long-short strategies. Jonathan began his career in 2002 as an analyst within Corporate Finance at Deutsche Bank in London.

Julien Raffelsbauer joins from Observatory Capital Management as a Senior High Yield Sector Specialist covering Transportation, Shipping, Travel & Leisure and Business Services. Julien covered a variety of sectors at Observatory Capital Management prior to which he was a High Yield Desk Analyst at Goldman Sachs for four years covering Shipping, Paper and Packaging, Transportation and Construction alongside Special Situations. Previously, Julien worked at JP Morgan, Société Générale and Banc of America Securities where he started in London in 2001.

About BNP Paribas Corporate and Investment Banking

BNP Paribas Corporate and Investment Banking employs around 20,000 people in over 50 countries and services 14,000 corporate and institutional clients worldwide.

BNP Paribas CIB excels in:

  • Derivatives - where it is one of the leading global players in rates, credit, forex, commodity and equity derivatives.

  • Capital markets - where it is one of the top European houses in both ECM and DCM (bond, securitisation, convertibles and equity issuance)

  • Structured finance - where it is amongst the leaders in acquisition, export, project, energy and commodity finance globally.

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