BNP Paribas to Open Support Functions Headquarters in Jersey City, New Jersey

March 01, 2007 09:15 AM Eastern Time

NEW YORK--(BUSINESS WIRE)--BNP Paribas is delighted to announce it will open an office in Jersey City, New Jersey. The Bank has signed a 15 year lease with Brookfield Properties effective January 30, 2007. The office will become the North American Support Functions Headquarters of BNP Paribas’ Corporate and Investment Banking business. Employees will begin relocating from the third quarter of 2007.

The new office space is located in the Newport Tower, 525 Washington Boulevard. Newport Tower was built in 1991 and designed by architects Ehrenkrantz, Eckstut & Whitelaw.

Commenting on the opening, Everett Schenk, head of Territory in North America said, “I think this is a critical step for our development in the US as we are forecasting significant organic growth in the coming years. We are very happy to be moving to a great building and location in Jersey City to help support this growth.”

BNP Paribas is forecasting staff levels in the NY area approaching 3,000 people by 2012 from the banks current staff of approximately 2,400 people.

About BNP Paribas

BNP Paribas -- www.bnpparibas.com -- is a European leader in banking and financial services, and ranks among the world's top 15 banks by market capitalization. It has more than 140,000 employees, 14,000 of whom are based in the United States. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets. Contacts

Press:
BNP Paribas
Edwina Frawley, Media Relations, New York, +212-841-3719
Kerrie McHugh, Media Relations, New York, +212-841-3809
Michele Sicard, Head of Corporate Communications,
+212-841-3070