NEW YORK, NY–(Marketwire – Feb 21, 2012) – BNP Paribas Corporate and Investment Banking (CIB) announced today that it has signed a definitive agreement to sell its reserve-based lending business in the United States and Canada to Wells Fargo. This transaction comprises $ 9.5 billion of total loan commitments, including $ 3.9 billion in funded balances as of December 31, 2011. All of the 36 people currently working in this business in Houston and Calgary will be offered employment at Wells Fargo.
Marketwire – Breaking News Releases – New York