BNP hires Willis from SG in senior execution role

BNP Paribas has hired Andrew Willis from Societe Generale to lead its low touch electronic trading business as the French bank looks to capitalise on its rapid integration of Deutsche’s prime brokerage business.

Willis, who has over 25 years’ experience in trading, joined BNP Paribas as its London-based Global Head of Listed Derivatives Low Touch Execution earlier this month.

Willis reports to Gaspard Bonin, Deputy Head of Derivatives Execution & Clearing, and is charged with growing BNP’s Listed Derivatives Low Touch Execution business globally, working in close partnership with Lee Spicer who runs High Touch Execution.

BNP said Willis is also responsible for delivering solutions across multi-asset listed derivatives franchise in coordination with the French bank’s clearing business

Bonin said: “Growth ambitions in Listed Derivatives line up with BNP Paribas Global Market’s expansion in Prime Services, Cash Equity, and Cross-Asset Electronic and Algorithmic Execution.”

He added: “With the integration of Deutsche Bank’s Prime Brokerage and Electronic Equities now complete, the acquisition of Exane and the recent referral agreement to provide continuity of service to clients of Credit Suisse’s Prime Services and Derivatives Clearing business, BNP Paribas keeps pursuing its ambition to become the leading European player of reference on the global stage.”

Willis joined from Societe Generale where he worked for over 14 years in various roles. Latterly he was managing director, global head of exchange-traded derivatives execution for Societe Generale Corporate and Investment Banking.

Willis was also part of SG’s management team for global execution services, covering cash equities and listed derivatives, and one of the team that managed the integration of Newedge into SG after the bank bought the broker in 2014.

Before joining Newedge, Willis was for a decade a director in cash equities trading at Nomura, having started at futures and options at the Industrial Bank of Japan.

The appointment marks a strong start to 2022 for BNP as the French bank looks to further develop its derivatives business following the timely integration of Deutsche Bank’s prime broking arm.

The French bank said on Wednesday last week the transfer of clients, technology and key staff from Deutsche Bank’s Global Prime Finance and Electronic Equities businesses to BNP Paribas was completed on time at the end of last year.

Olivier Osty, head of Global Markets and member of the Executive Committee at BNP Paribas, said last week: “By leveraging the strengths of the integrated platform, BNP Paribas is well-positioned to become the leading European Prime Services player on the global stage, establishing the new standard in prime services and electronic equities for institutional investors and corporate clients across the world.”