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BNP Paribas prime-brokerage boss quits to join UBS

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Ashley Wilson, head of the prime brokerage division at BNP Paribas, has quit the firm to join rival company UBS Group AG, according to a report by Bloomberg.

Wilson, who joined BNP Paribas as part of a 2019 deal that saw the firm acquire clients and technology from Deutsche Bank AG, is a veteran of the prime brokerage business which lends cash and securities to hedge fund clients and executes their trades.

Before joining Deutsche Bank and then BNP Paribas, Wilson worked at Morgan Stanley and Barclays Plc. At Deutsche Bank he  elped oversee large trades that allowed them firm to avoid significant losses from its relationship with investment firm Archegos Capital Management LP.

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