Adrian Boehler has, according to reports, left his position as co-head of FX, local markets and commodities at BNP Paribas. In another development, market sources tell Profit & Loss that Sally Francis, head of institutional sales for FX and local markets at the bank, has also left.
Boehler is seeking another career opportunity according to an internal memo cited by Bloomberg News. He joined the bank in late 2011 as global head of institutional sales, after serving as head of FX sales for Europe at HSBC. Boehler is also co-vice chair of the Global FX Committee, having been named to the role in June of this year.
Boelher’s co-head, Francisco Oliveira is assuming sole control of the business according to the Bloomberg News report, the latest in a series of changes at the top of the bank’s FX business. In 2015, BNP Paribas made the global head of FX role a dual reposonsbility by appointing Boelher and Hubert de Lambilly as co-heads following the departure of previous incumbent Eric Auld. In March of this year, Oliveira, formerly head of global markets for Latin America at BNP, was appointed to the co-head role alongside Boelher.
Francis, meanwhile, joined the bank in mid-2013 after a 12 year career at UBS, most latterly as head of northern European FX sales.
The two departures continue a period of upheaval within BNP Paribas’ FX business, in the last year it has seen a change in management in its FX prime brokerage and G10 FX trading businesses.