Dixon exits BNP Paribas

European head of derivatives clearing leaves

BNP Paribas: losing European clearing head

Gavin Dixon, European head of derivatives clearing services at BNP Paribas in London, is to leave the bank.

In an email to FX Week's sister publication, Risk, Dixon confirmed his departure, saying his next role is "unknown as yet".

A clearing source at another firm says the move is indicative of a wider retreat from client clearing, as banks struggle to make money from a business that has been the victim of postponed implementation and increasing capital requirements.

Dixon has worked at BNP

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