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BNP Paribas to cut 1,500 Paris investment bank jobs

Source: ft.com

BNP Paribas plans to cut 1,500 jobs in its French investment bank to reduce costs amid regulatory pressures.
The bank faces stricter capital rules from EU and French authorities, forcing it to shrink its trading operations.
These cuts will mainly hit Paris-based roles, with the division's headcount dropping by about 20%.

BNP Paribas, France's largest bank, is planning significant layoffs in its investment banking unit in Paris to comply with tougher capital requirements from regulators. The move involves 1,500 job cuts, targeting trading and structuring roles, as the bank reallocates resources to less capital-intensive activities. This reflects broader pressures on European banks to adapt to post-financial crisis rules, and it matters because it signals challenges for France's financial hub in retaining high-val