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BNP Paribas snares UBS trader for its EM trading buildout

BNP PAribas entrance in the charming city of Aix

So far, 2017 has proven to be a good year for traders focused on emerging market credit. BNP Paribas is one investment bank that’s been hiring in this area, and it’s continued its buildout with a new recruit from UBS.

Vitaliy Ryabokon, an emerging markets credit trader focused on Russia from the bank’s London office, is set to join BNP Paribas later this year, according to sources close to the situation. He resigned from UBS last week, they suggest.

Ryabokon has worked at UBS since 2007, across its offices in Moscow, Zurich and London. He will be trading Russian credit at BNP Paribas in his new role.

Banks with a traditionally smaller presence in emerging markets credit trading have been making an effort to catch up with larger rivals by hiring in senior traders.

BNP Paribas has been hiring traders in London. In July, it brought in Shokat Khan as a senior emerging markets credit trader focused on the Middle East and North Africa from London. He was previously at Cantor Fitzgerald, and also held managing director roles at Jefferies and Royal Bank of Scotland.

BNP’s push comes after hiring in Iftikhar Ali, who left his role as chief investment officer of hedge fund Rhodium Capital after four years. He was previously head of EMEA proprietary trading at Bank of America Merrill Lynch.

Emerging markets trading is a sector that investment banks continue to hire for. Jefferies is building its EM credit trading team, hiring Aaron Fernandes from Barclays in New York and Kevin Kelly from Goldman Sachs in London to head up its UK-based team. Goldman, meanwhile, hired from Cantor Fitzgerald, bringing in its head of emerging markets trading for CEEMEA, Thomas Blondin, as an executive director in May.

Contact: pclarke@efinancialcareers.com

Image: Getty Images

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