French bank BNP Paribas is on a hiring spree as it seeks to grow its U.S. fixed income group by as many as 70 professionals over the next 18 months, a bank representative confirmed. Most of the new hires will be in sales.
The Paris-based bank has brought on approximately 20 new fixed income professionals in the past month. BNP has 450 professionals in its U.S. fixed income group right now. Its fixed income group includes its debt capital markets division.
The move is a reversal from the firm’s position from several months ago. Earlier this year, BNP folded its stand-alone high yield group into debt capital markets and completely eliminated its distressed finance group.