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
Play Rathbones' Smith on China's economic hegemony ambitions

Rathbones' Smith on China's economic hegemony ambitions

Discussing China's saving problem, Ed Smith argues that if the country opens up there will be an outflow of capital.

Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Read More
Wealth Manager on Twitter