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BNP Said to Shut London Emerging-Market Proprietary Trading Desk

BNP Paribas SA (BNP), France’s largest bank, shut its emerging-markets proprietary trading desk in London, prompting the departure of two senior traders, according to three people with knowledge of the decision.

Jean-Luc Alexandre, who ran the desk, which invested money on behalf of the firm, left in July, according to the Financial Conduct Authority’s register. Philippe Fourcade, a trader on the desk, left last month, the register shows.

http://www.bloomberg.com/news/2014-09-03/bnp-said-to-shut-london-emerging-market-proprietary-trading-desk.html