Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

RBS seals deal to sell structured products units to BNP Paribas

RBS seals deal to sell structured products units to BNP Paribas

Royal Bank of Scotland has reached an agreement to sell parts of its retail structured products division to BNP Paribas.

Negotiations between the two banks were first reported in November last year. The sale depends on regulatory approval, which is expected to be received in the next few months.

The total value of the RBS portfolio is believed to be a potential £175 billion, with BNP beating 30 other bidders. BNP has consolidated around £13 billion in structured product assets in recent years.

‘We are proud to have been chosen by RBS, after a highly competitive bidding process which testified to the quality of their business,’ said Yann Gerardin, head of BNP’s Paribas Global Equities and Commodity Derivatives division.

‘The transaction will allow us to serve existing and potential new clients more effectively, thanks to the strong match of RBS’s financial offerings with our strategic growth targets, both in terms of products and countries.

‘It will thus accelerate our development in the space of retail listed products and structured retail products, without modifying our risk profile.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: bonds with Ian Spreadbury

Brewin's Gutteridge: bonds with Ian Spreadbury

This week Brewin Dolphin's research head chats to Fidelity's Ian Spreadbury about the recent behaviour of interest rates and credit spreads.

Play Can tech advances explain the UK productivity puzzle?

Can tech advances explain the UK productivity puzzle?

Much of the productivity puzzle of the last eight years may be explained by a failure to capture new tech

Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Your Business: Cover Star Club

Small is beautiful: wealth firms still see value in less rich

Small is beautiful: wealth firms still see value in less rich

Latest statistics from findawealthmanager.com show that there are many firms who still service smaller clients.

Wealth Manager on Twitter