BNP Paribas in Pact With Morningstar for APAC Research -- Update
July 04 2019 - 5:20AM
Dow Jones News
By P.R. Venkat
BNP Paribas SA (BNP.FR) said Thursday that it will source its
Asia-Pacific equity research from Morningstar Inc. (MORN).
The French bank will lay off 12 of its equity research analysts
as a result of the agreement, a person familiar with the situation
said. The layoffs will mostly be in Hong Kong and Singapore, the
person said.
Morningstar will provide equity research for BNP Paribas in
China, Hong Kong, Singapore, Korea and Taiwan across six sectors
including financial, real estate, consumer and health care, the
bank said in a statement.
BNP Paribas will be the exclusive sell-side equities research
provider distributing Morningstar's reports to its buy-side clients
in the region, it said.
Morningstar's coverage will be for around 150 stocks, according
to the statement.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
July 04, 2019 05:05 ET (09:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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