PARIBAS, COMMITTED EUROPEAN
No continental European bank has made a bigger commitment to the new shape London securities markets than Paribas-- except, perhaps, for Union Bank of Switzerland. Since moving its Eurobond operations to London in 1984 Paribas has established itself as the only French bank in the top tier. And by buying leading stock broker Quilter Goodison, Paribas promises to rank among the leaders in the post-Big Bang equity market.
As a banque d'affaires with a tradition of securities business, Paribas has reacted to the changes in London in a more spritely way than its rivals. Banque Nationale de Paris and Credit Lyonnais still run their Euromarket operations from Paris (though the former recently announced it would shift dollar bonds to London by the end of 1987) and have avoided the London stock market. Societ e G$aenerale has bought a stake in brokers Strauss Turnbull; Credit Commercial de France in Laurence Prust, but both still centre their Eurobond business on Paris. And Banque Indosuez, Paribas' rival banque d'affaires, shows no signs of responding to the changes in the London markets.
"We leapfrogged London, when we went straight to the US for our venture with Becker,' said Christopher Honeyborne, deputy chief executive of Banque Paribas in London.