BNP Paribas names Lambert, Ong to high yield positions

New York, Jan. 24 - BNP Paribas said Thursday that it named Robert Lambert as its new head of U.S. high yield trading in New York. The investment bank also announced the appointment of John Ong as its London-based global head of high yield origination and capital markets.

Lambert, with 10 years of high yield market experience, joins BNP Paribas after almost six years with Société Générale, where he was most recently the head of European high yield trading. He is the author of "The Tools," a comprehensive commentary on junk bond trading, performance and price action.

Ong, previously in charge of BNP Paribas' European High Yield Origination and Capital Markets Department, joined BNP Paribas in July, 2000 after 17 years with Bankers Trust, where he had been a managing director in Deutsche Bank's High Yield Group following Deutsche's acquisition of Bankers Trust.

Lambert and Ong will both report to the global head of BNP Paribas' High Yield Group, Kathryn Swintek, who said that Lambert's "experience and extensive contacts in the industry are an attractive addition to our North American capabilities."

Meanwhile, she also said that Ong's management of European high yield transactions, "involving companies across a broad spectrum of industries - food and beverage, aggregates, leisure, auto parts, specialty chemicals and specialty retail among others - make him a natural selection to oversee our high yield origination business on a global basis."

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