BNP Paribas SA (BNP), the largest French lender, has put Thierry Marais in charge of coverage of French financial institutions, according to a memo obtained by Bloomberg News.
Marais, 52, was head of corporate finance for banking clients at the lender, and will now serve as senior banker for a portfolio of French financial institutions, according to the memo. Jean-Sebastien Dietsch, 38, is taking over Marais’s former responsibilities, while continuing to serve insurance clients, a person with knowledge of the move said.
Marais has spent more than 10 years with BNP Paribas and more than 20 years in mergers and acquisitions, beginning as a financial analyst at ABN AMRO in Paris, the memo says. He worked in mergers and acquisitions advisory at both Banque Stern and Cie. Financiere Edmond de Rothschild before joining BNP in 2001.
Since then, he has advised BNP on major transactions such as the acquisition of Fortis of Belgium and Banca Nazionale del Lavoro, or BNL, of Italy.
Marais will report to Frederic Legmann, head of investment banking for financial institutions in Europe, while Dietsch will report to Thierry Varene, head of corporate finance at BNP.
An official at BNP declined to comment.
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