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Equity Departure Is Third In A Month

19 May 2002

Jim Xu, a trader in the equity derivatives group at BNP Paribas in New York, has resigned from the firm, becoming the third equity professional to exit the group in the last three weeks. A firm spokeswoman confirmed Xu's resignation, but declined further comment.

Xu's exit follows on the heels of departures by Vuk Bulajic, head of the U.S. equity derivatives team (DW, 5/3), and Kent Oz, head of institutional sales for the New York group.

Firm officials anticipate more departures from BNP's equity group after the firm appointed Francois Carnet, the Asia head of equity derivatives, to head the U.S. equity derivatives team. "The new guy is cleaning house," one official said. Carnet, who arrived in New York about a week ago, declined to comment and referred calls to the firm's press office.

19 May 2002