BNP Paribas bolsters high-yield capital markets group

The French bank hired former Deutsche Bank leveraged finance specialist to its European high-yield capital markets team.

BNP Paribas, a French bank, has hired Max Biagosch in its European high-yield capital markets group in London.

At BNP Paribas, Biagosch reports to Youssef Khlat, head of European high-yield capital markets.

Biagosch joined BNP Paribas from Deutsche Bank in London where he has been since 2001, most recently as vice president in leveraged finance. He also worked in the M&A group, focusing on the technology, media and telecommunications sector.

Biagosch’s hire follows the appointments of Alain Dib, Douglas Clarisse and Roland Nabhan to the European high-yield group last year.

BNP Paribas is one of several banks such as Morgan Stanley, Calyon, Barclays, HSBC and Societe Generale that have boosted their high-yield activities in the past year.

In February, Morgan Stanley hired Goldman SachsMartin Thorneycroft as an executive director of high-yield capital markets in Europe.

Last September, Calyon, a division of French bank Crédit Agricole, hired former BNP Paribas high-yield trader Andrei Korolev as head of high-yield trading in London. Korolev works alongside Tim Hall, who joined Calyon as head of high-yield from ING in 2004.

Earlier in 2005, HSBC hired Julien Gurcel, formerly a senior debt banker at Barclays Capital, to head its European high-yield activities.