- Taylor said to leave this week, person with knowledge says
- Taylor oversaw central, eastern Europe, Middle East, Africa
Nick Taylor, BNP Paribas SA’s head of credit trading for central and eastern Europe, the Middle East and Africa, is leaving the biggest French bank, according to a person with knowledge of the matter.
Taylor, who joined Paris-based BNP Paribas six years ago, is departing as soon as this week, said the person, who requested anonymity because the information is private. Taylor, who was based in London, declined to comment.
BNP Paribas’s fixed-income unit boosted revenue 15 percent in 2015 to 3.9 billion euros ($4.4 billion) after a “good performance” in trading corporate bonds and products tied to currencies, according to a Feb. 5 presentation. Still, the lender is seeking 1 billion euros in annual cost savings at its investment bank by 2019, cutting hundreds of positions in France, as it focuses on businesses that absorb less regulatory costs and generate higher fees.
Andrew Achimu, a spokesman for BNP Paribas in London, declined to comment.