Brexit is on hold, but U.S. banks are still building their businesses in Paris. - Bank of America just poached a mid-ranking equity derivatives professional from Goldman Sachs.
Rémi Collignon left Goldman Sachs and joined Bank of America last month, according to his LinkedIn profile. Collignon is an equity derivatives structurer and occupied this role at both banks.
Bank of America didn't immediately respond to a request to comment on Collignon's arrival. It comes as the U.S. bank is building-out its business in Paris. A new Paris office, due to open soon, is expected to accommodate around 400 people in total, of whom 200 are likely to be in the front office (across investment banking and sales and trading).
Collignon's arrival at BofA is an interesting reflection on the pre-Brexit Paris hiring market. A French national, he spent the first eight years of his career at Commerzbank in London before moving to Goldman Sachs in London in October 2018. Five months later, he was poached by BofA's Paris office.
Goldman Sachs began building its Paris equity derivatives team last year. In April 2019, it hired a salesman for its Frankfurt equity derivatives solutions business.
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