Hearn is retiring as co-head of marketing – a role that incorporated the distribution and origination of all credit, rates and FX products. He joined the French bank in 2000 as head of investment-grade credit, a role he held for five years before taking on the job he had until last month working alongside marketing co-head David Brunner.
Frédéric Janbon, global head of fixed income, will take on Hearn’s duties until a replacement is found. Hearn told Euromoney that he had always promised himself that he’d retire from the business at 50.
"I hope I’m going with some degree of people thinking: ‘It’s a shame he’s gone’, rather than thinking: ‘Isn’t it time he buggered off?’," he says.
Before joining BNP Paribas, Hearn spent 15 years at JPMorgan in syndicate and origination roles.
He will not return to a similar position at an investment bank but does not rule out returning to some type of role in the market.
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Charlie Berman is one of the big names leaving DCM |
"I didn’t even manage to get a redundancy package," he says, alluding to the payoffs that some other senior bankers have received as institutions grapple to reduce their cost base in the face of evaporating revenues.