BNP Paribas aims to capitalise on the disruption of Brexit to gain market share in UK corporate and investment banking and has drawn up aggressive plans to attract business from mid-sized British companies.
France’s biggest bank, which has had a UK presence for 150 years, recently drew up a mission statement to break into the top tier of the market for providing advice and financial products to UK companies and institutions, mirroring the strategy that recently boosted its position in Germany.
“It might seem counterintuitive to single out the UK as a golden land of opportunity for us, but it is in the same way as Germany has been for us,” said Yannick Jung, who this month became BNP’s head of global banking for Europe.
The move is also intended to take advantage of the way most British banks have shrunk their international operations since the 2008 financial crisis.
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