NEW YORK, NY--(Marketwire - September 29, 2010) - BNP Paribas Corporate and Investment Banking (CIB) is pleased to announce the expansion of its Merchant Banking Group with the appointments of Keith Murray and David Sommer to lead two new leveraged finance teams in New York. Keith and David, both Managing Directors, report to Bucky Khan, head of the Merchant Banking Group, Americas. Keith has over 20 years of middle market leveraged finance experience and was previously a Managing Director at Merrill Lynch Capital where he managed the Northeast sponsor finance team. David has over 15 years of experience and was previously a Managing Director in the Financial Sponsor and Leveraged Finance groups at J.P. Morgan and CIBC World Markets.
BNP Paribas' Merchant Banking Group has been a consistent leader in providing acquisition and buy-out financing as Left Hand Lead/Book Runner for the middle market since the 1980's. The Merchant Banking Group is part of the Structured Finance business line within CIB.
Richard Cushing, a fifteen year veteran with BNP Paribas, will continue to head one of the Merchant Banking Group's three leveraged finance teams in New York. The Merchant Banking Group also has leveraged finance teams in Chicago and Dallas. The Chicago office is led by Clark King who has been with the bank for over 16 years and the Dallas office is headed by Sean Davenport, who has over 10 years with the company. Richard, Clark and Sean also report to Bucky Khan, whose career with BNP Paribas spans over 18 years.
"This is a unique opportunity to expand one of BNP Paribas' core franchises," noted Khan. "Our consistent presence for over two decades in middle market leveraged finance gives us great credibility with our existing and new clients. BNP Paribas' Merchant Banking Group provides private equity clients with a one-stop shopping option in the middle market with 1st lien, 2nd lien/mezzanine and equity (non-control) co-investment products to finance LBOs and related financings."
BNP Paribas Corporate and Investment Banking
BNP Paribas Corporate and Investment Banking employs over 20,000 people in over 50 countries and services 13,000 corporate and institutional clients worldwide.
BNP Paribas CIB excels in:
Derivatives -- where it is one of the leading global players in rates, credit, forex, commodity and equity derivatives
Capital markets -- where it is one of the top European houses in both ECM and DCM (bond, securitization, convertibles and equity issuance)
Structured finance -- where it is amongst the leaders in acquisition, export, project, energy and commodity finance globally
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and about 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
*Rated AA by Standard & Poor's i.e. 3rd rating on a scale of 22.
Contact Information:
Press contacts :
Edwina Frawley-Gangahar
Media Relations, New York
+212.841.3719
Megan Stinson
Media Relations, New York
+ 212.841.3809