BNP Paribas tempted back a top salesperson from Goldman Sachs with a promotion
They say you never forget your first love. Apparently, in financial services, you never really forget your first employer, either. As long as said first employer can tempt you back, that is.
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Jake King-Smith joined BNP Paribas in London as a managing director (MD) and head of its UK, Middle East, Africa, and Turkey corporate rates and FX team. He returned to BNP after a seven year stint at Goldman Sachs, where he was most recently an executive director in the firm’s rates sales team.
King-Smith's first BNP stretch lasted around eight years. He joined the bank after graduating, making his return this month a bit of a homecoming. King-Smith said as such in a social media post, noting that it brought him “full-circle” to the team “where he began his career, now with the opportunity to lead the business across the region.” The bump up the MD certainly didn't hurt. BNP declined an offer to comment.
It’s a good time to work in rates. Citi and Deutsche Bank are both hiring rates traders in Europe. Our 2026 Compensation & Lifestyle Report found that Macro salespeople and traders are the best paid of their peers. And Bank of America CEO Brian Moynihan noted that trading revenue was expected to rise by 15% in Q2 on top of a volatile macro climate – the kind that pushes clients into the arms of hedges sold at a rates or FX desk.
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