According to Finews, the French financial institution BNP Paribas has announced the appointment of Enna Pariset as CEO of BNP Paribas Suisse, beginning July 1st. She will also continue to lead the Swiss corporate and institutional banking business.
With nearly three decades of banking expertise, Pariset spent 19 years with BNP Paribas in corporate and institutional banking, where she handled senior client advisory and managerial positions.
According to the announcement, her extended responsibility is to further accelerate growth and expand operations in Switzerland while accelerating the transformation of the business model to lay the foundation for improved efficiency improvements.
‘’BNP Paribas has been present in Switzerland for over 150 years, having contributed to the early industrialization of the country by financing the Gotthard and Simplon railway infrastructures. Switzerland with its strong export-oriented economy is an important growth market for BNP Paribas,’’ Pariset said of her appointment.
Finma and the board of directors of BNP Paribas Suisse must approve the appointment.
According to Reuters, investors who own Credit Suisse bonds worth more than 4.5b Swiss francs ($5b) have filed a complaint against the Swiss regulator for its decision to wipe out their interests during the emergency government-planned takeover last month.
A lawsuit has been launched in relation to the Swiss decision to wipe out $18b of Credit Suisse’s Additional Tier 1 (AT1) debt in a rescue last month.
The appeal was launched on April 18 in the Federal Administrative Court in St Gallen, north east Switzerland, against FINMA, the Swiss Financial Market Supervisory Authority that imposed the write-down.
FINMA refused to comment.
Meanwhile, GlobalData has revealed its league tables for top ten financial advisers by value and volume in Middle East and Africa for Q1 2023.
As per GlobalData’s financial deals database, Citi, BNP Paribas, Mitsubishi UFJ Financial and Natixis jointly took the second place in the value table, with each advising on $2.2bn worth of deals.