|Name: Stefano Paschetto|
Institution: BNP Paribas
Date promoted: March 2005
Title: Head of European institutional client group
Previous job before promotion: Head of European fixed income sales and marketing for financial institutions, interest rates group
Years in capital markets: 16
First job in capital markets: Bond sales/distribution at Paribas in London
Favourite deal worked on: 20 year Ecu deal for the Republic of Italy, 1991
Family: Married with three children
Lives: Barnes, southwest London
When BNP Paribas reshuffled its senior fixed income roles in March, the first revamp of the division in five years, Stefano Paschetto was promoted to sole head of the bank's fixed income European institutional client group.
Mark Goldman, formerly head of the institutional client group, had stepped down from his position, leaving Paschetto to take charge. Before Paschetto's promotion, he had spent over five years running interest rates and credit derivatives marketing in Europe.
As part of his new job, Paschetto works with Martin Egan (qv), global head of primary markets, and Ligia Torres (qv), the former head of FX sales who now heads up the European corporate group.
The two groups were created last summer to market derivatives and debt products to financial, corporate, sovereign, supranational and agency clients.
"We moved away from an organisation that mirrors the trading products — credit, interest rates and foreign exchange — to a model where we brought under the same marketing management, all structuring and sales groups covering the same type of clients that include financial institutions, corporates or sovereigns," he says. "We can now better coordinate all the product sales specialists covering similar clients."
BNP Paribas, says Paschetto, is eyeing further expansion in its debt business, including debt and ratings advisory, and liability and balance sheet management work for corporate and financial clients.
He reports to Paul Hearn and David Brunner, co-heads of global fixed income sales and marketing.
Paschetto joined Paribas in January 1989 in sales and distribution, covering Switzerland and Italy. After five years he became head of European sales and distribution, a position he held until 1998, when he was made head for southern Europe, leading a specialised derivatives marketing group that worked across interest rates, equity, credit and FX underlyings.
Paschetto was asked to run the bank's interest rates and credit derivatives marketing group in early 2000 after BNP Paribas' merger with Banque Nationale de Paris.