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broke news on some changes at BNP Paribas‘ investment bank in the US. Bob Hawley, the CEO of Corporate and Institutional Banking in the Americas, is stepping down from his role to serve as a vice chairman within the French bank. Jose Placido, the global head of financial institution coverage, has been tapped as the next top exec. The shakeup comes as the firm fights for relevancy in the states. BNP ranked 12th in investment banking revenues in the Americas in 2018 among the big global players.
For those of you in equities, you might want to hold off on booking that two-week vacation to the South Pacific. Keep your head up, though. You might be able to find something great closer to home.
Larry Robbins‘ returns for the year in his flagship fund marked a complete turnaround from 2018, when the firm lost 16% in its flagship fund and investors redeemed billions from the firm’s hedge funds and long-only vehicle.
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