BNP Paribas in a bid to expand

FRENCH banking group BNP Paribas has its eye on expanding operations in the UK as part of an effort to break into the top flight of investment banking.

A newly created team of bankers will try to strengthen ties with 200 top corporate clients in the UK and across Europe, with a view to moving the traditionally retail-focused group into the top five M&A advisers.

BNP hopes to build on its relatively strong post-crisis position by fostering investment and corporate deals, which currently make up a third of its revenues.