BNP
Paribas,
France’s
largest
bank,
will
continue
to
distribute
the
fund
to
its
clients
and
invest
in
future
projects,
although
all
future
commitments
will
be
negotiated
on
a
case-by-case
basis.
The
entire
CEP
team
will
be
transferred
to
the
new
entity,
including
chief
executive
Joost
Bergsma.
The
deal
reflects
the
broader
trend
of
big
banks
shedding
non-core
assets
to
free
up
capital
in
response
to
stiffer
regulations
being
imposed
on
the
financial
industry.
Bergsma,
however,
says
the
move
was
motivated
by
a
desire
to
operate
with
"enhanced
corporate
flexibility
and
independence”.
“And
by
becoming
an
independent…
