The global co-head of macro and credit trading suddenly disappeared at BNP Paribas
Where is Francisco Oliveira, the global co-head of global macro and credit trading at BNP Paribas? No longer at his desk in London.
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Oliveira has left the French bank, where he was last seen on Tuesday evening.
A spokesperson for BNP Paribas said Oliveira's exit is part of a rationalisation of the fixed income business: “In order to create scale across fixed income activities, we have announced the creation of a single fixed income, currencies and commodities (FICC) global business line."
The new single business is being managed by Arne Groes, Oliveira's former co-head in macro and credit trading. Groes joined from ABN AMRO in 2008 and is as much of a fixture as Oliveira was.
Oliveira had been at BNP for two decades since joining from Credit Suisse in Brazil. He was popular internally and it's thought that he may be returning to Brazil to be closer to his family, but this is a matter of speculation.
Revenues in BNP Paribas's fixed income sales and trading fell 7% year-on-year in the second quarter. The bank nonetheless described the business as "resilient."
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