As banking commentator William Wright points out, BNP?s fixed income revenues aren?t looking very healthy at all. Bac in 2010, BNP said it wanted to follow French rival SocGen and make hundreds of hires for its front office fixed income business. Today, Wright points out that BNP has registered its worst second-quarter fixed income sales and trading results for five years. Since 2010, fixed income revenues at BNP have fallen 36%. Perversely, the peak year for BNP?s Q2 fixed income revenues was 2009 ? before the hiring push took place.
This article was published in eFinancial Careers, 31st July 2013