LONDON: BNP Paribas SA has been struck by a wave of departures and absences from work at its European credit-trading business, gutting the senior-most ranks of the desk that deals in corporate debt at France’s largest lender.
Iftikhar Ali, head of credit trading for central and eastern Europe, the Middle East and Africa, has left BNP along with distressed-debt and loan-trading head Jonathan Oakley, according to people familiar with the matter, who declined to be identified as the details are private. European high-yield trading head Stephen Snizek may also depart, they said.