BNP Paribas dumps big names

TWO of the biggest hitters at BNP Paribas have been ousted amid rumours of more job cuts to come in the London arm of the French investment bank.

The casualties are Jo Darlington, director of equity research, and Tim Draper, global head of European sales. The cuts are the result of the merger with Exane, the French research house, and more job losses could follow.

'There are a lot of worried people there,' according to one source close to the bank. However, Charlie Atkinson, global head of sales trading, has escaped the axe.

Darlington ran the BNP research team Europewide, in charge of about 100 analysts. Draper was responsible for about 75 equity sales people.

BNP Paribas, which had no comment to make today, announced in December the joint venture with Exane, the top-ranked domestic French broker.