BNP Paribas (Suisse) SA has decided to discontinue its Commodity transactional financing activities. The conditions of this retrenchment will allow the interests of the clients of this business to be preserved.
In this respect, the Bank is considering implementing a social plan which could impact up to 120 employees in Geneva.
A consultation period is therefore starting today, to allow employees to propose any suggestions which might mitigate the effects of the plan and to negotiate any accompanying social measures. In parallel, the Bank strengthens its development in Switzerland supporting its clients through its business lines Global Banking, Global Markets and Securities Services within Corporate and Institutional Banking and its Wealth Management activity.
BNP Paribas has been present since 1872 in Switzerland, which represents a strategic market within the Group’s European network, and today follows a strategy built around these two activities. Corporate & Institutional Banking focuses its development on large and mid-cap Swiss companies, multinational corporations, and financial institutions. Wealth Management in Switzerland concentrates on entrepreneurs and on High Net Worth clients supporting them over the long term by providing global solutions to their financial and estate planning needs.