BNP Paribas is pleased to announce that Yann Gérardin, Head of Corporate and Institutional Banking at BNP Paribas has been honoured with a Lifetime Achievement Award from Risk Magazine.
The Lifetime Achievement Award was incorporated into the inaugural Risk awards in 2000, to recognise an individual who has made an outstanding contribution to the activities Risk Magazine covers – including derivatives, risk management, quantitative finance and regulation – throughout their career. The award was presented on Wednesday evening at Risk’s annual event in London.
Risk magazine’s profile of Yann Gérardin noted the significant achievements of his career:
“It might seem difficult for someone working in one of the 10 largest banks in the world by assets to develop an entrepreneurial mindset, but Gérardin’s debut at Banque Nationale de Paris (BNP) in 1987 was in an unusually autonomous role. He was hired in 1987 to set up an equity options business from scratch. Privatisation in 1993 sparked a new strategic plan, which included a targeted acquisition in the US to grow the equity options business. Gérardin led the search, and identified boutique options trader Cooper Neff, which was snapped up in 1994. What followed in the next decade is still a remarkable transformation, even from today’s perspective when the dominance of French banks in equity derivatives is somewhat taken for granted.”
“Following massive central bank and government intervention in the final quarter of 2008, many investment banks returned to hiring mode during 2009, in anticipation that a strong market rally would help revenues recover. Gérardin’s analysis was that a round of post-crisis regulation and higher capital requirements would substantially constrain the balance sheets of the major dealers, to an extent that could not be offset by any rebound in revenues. This prompted him to impose a complete change of strategy on his division, including cost-cutting and shrinking risk-weighted assets and funding needs. In the end, the transformation left the bank in a position of strength to comply with Basel 2.5 from 2011, and coincidentally left it better prepared than peers to cope when the Eurozone crisis heated up in 2010 and 2011. By 2012, Gérardin’s division was able to begin taking back market share, going on the acquisition path just when other banks were being forced to head for the exits.”
Yann Gérardin, Head of CIB, BNP Paribas said:
“It’s an honour to receive this award from Risk Magazine. The credit however is not mine – instead it belongs to the BNP Paribas teams I have worked with over the years. Whilst proud of our collective accomplishments, the ‘past is prologue’; our focus is firmly on the future, on continuing to transform our business, and – most importantly – on supporting our clients.”
The bank is also pleased to announce that the BNP Paribas CIB Portfolio Management team won this year’s award for Credit portfolio manager of the year
The award writes ups are below.
Andrew Achimu firstname.lastname@example.org
+44 (0) 207 595 6647
Alexandra Umpleby email@example.com
+44 (0) 207 595 2436
Sarisher Mann Sarisher.MANN@uk.bnpparibas.com +44 (0) 2075958150
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About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas Corporate and Institutional Banking
Fully integrated in the BNP Paribas Group, BNP Paribas Corporate and Institutional Banking (CIB) (www.cib.bnpparibas.com) is a leading provider of solutions to two client franchises: corporates and institutionals, and operates across EMEA (Europe Middle East Africa), APAC (Asia Pacific) and the Americas. The bank is a global leader in Debt Capital Markets and Derivatives. It is a top European house in Equity Capital Markets and it has leading franchises in Specialized Financing. In Securities Services, it is a top five House worldwide. BNP Paribas CIB strives to service the global economy by providing solutions to its clients in financing (ECM, DCM, specialized financing), flow banking (trade finance and cash management), financial advisory (M&A, project finance), global markets (interest rates, credit, foreign exchange, equity derivatives), risk management, and securities services.