BNP Mortgage Trader Maini Departs Amid Cuts in Fixed-Income Unit

BNP Paribas SA (BNP)’s head mortgage-bond trader, Harpal Maini, left the French lender this week as the company cut fixed-income staff in its New York investment-banking unit, according to a person with knowledge of the matter.

Mallory Brooks, head of U.S. interest-rate sales, and Sean Reddington, a banker in the lender’s securitization group, also departed the bank, people with knowledge of those moves said, asking not to be named because the information isn’t public.

The firm made the cuts in the unit yesterday, the people said. Cesaltine Gregorio, a spokeswoman for the bank in New York, declined to comment.

Maini joined the firm in 2004, while Reddington worked at the bank since 1996, according to Financial Industry Regulatory Authority records. Brooks joined the bank in 2007, Finra records show.

Maini and Reddington couldn’t immediately be reached for comment. Brooks declined to comment when reached by telephone.

To contact the reporter on this story: Jody Shenn in New York at jshenn@bloomberg.net

To contact the editor responsible for this story: Shannon D. Harrington at sharrington6@bloomberg.net

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