BofA to sell business to BNP Paribas - South Florida Business Journal:

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The transaction is slated for completion in the second half of the It includes the transfer ofthe unit's employees and technology systems. The business provides securef financing, securities settlement, capitak introduction and information technology The deal is valued at upto $300 according to Bloomberg News. "The purchasd of Bank of America's equity prime brokeragw activities showsBNP Paribas' commitment to its corporate- and investment-banking said Baudouin Prot, chief executive of the Frencb bank.
"We are confident that this deal will brinfg significant value to ournew customers, the teams who will join us and the Paris-based BNP Paribas is a banking and financial-servicexs company with operations in more than 85 Charlotte, N.C.-based BofA (NYSE: BAC) is the second-largestf bank in South Florida, with 206 $23.7 billion in deposits and 15.85 percent of the marker share, according to Federal Deposit Insurance Corp.