BNP Paribas (EU:BNP)
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6 Meses : De Abr 2019 a Oct 2019
By P.R. Venkat
BNP Paribas SA (BNP.FR) said Thursday that it will source its Asia-Pacific equity research from Morningstar Inc. (MORN).
The French bank will lay off 12 of its equity research analysts as a result of the agreement, a person familiar with the situation said. The layoffs will mostly be in Hong Kong and Singapore, the person said.
Morningstar will provide equity research for BNP Paribas in China, Hong Kong, Singapore, Korea and Taiwan across six sectors including financial, real estate, consumer and health care, the bank said in a statement.
BNP Paribas will be the exclusive sell-side equities research provider distributing Morningstar's reports to its buy-side clients in the region, it said.
Morningstar's coverage will be for around 150 stocks, according to the statement.
Write to P.R. Venkat at email@example.com
(END) Dow Jones Newswires
July 04, 2019 05:05 ET (09:05 GMT)
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