An interview with Philippe Bradshaw, the newly appointed Country Head of France

NatWest is growing its customer focussed commercial and institutional banking franchise across Europe. France is a core part of the strategy and integral to the business as it builds and grows.

Philippe Bradshaw was recently appointed Country Head of France alongside his responsibilities as Head of Syndicate at NatWest Markets N.V.. He brings considerable knowledge to the fixed income markets, with experience spanning over 30 years in sales, origination and syndication. He has spent most of his career in London, Paris and Amsterdam.

What are your goals as Country Head of France?

Our goal is to support our French customers, prioritising what matters to them and assisting them with their day-to-day activities at the same time. We want to deliver the strategic advice and expertise our customers need to grow quickly and confidently.

Creating connectivity between a wide range of activities is one of my key focus areas for the Paris office. For example, good marketing materials are being exchanged and monetised between our teams at Financial Institutions (FI), Sovereigns, Supranationals and Agencies (SSA) and Corporate Coverage which helps content delivery to our clients. 

Another angle is the quality of our sales force based in Paris covering French, Benelux, Nordic, Swiss, Spanish and Portuguese clients. That yields ongoing engagement with some of the largest European investors on a wide range of products.

Can you tell us a bit about the team in Paris?

Our Paris office, now at 50 colleagues and growing, is considered a commercial hub with more than 90% of us engaging with customers. A significant part of our European FX team and a large part of the European sales team are based here, covering French, Benelux, Nordic and Swiss investors. These are also based alongside our Private Financing, FI and Frequent Borrowers Group (FBG) coverage teams. 

The N.V. Syndicate team completes the commercial platform with flow syndicate covering FIs, Corporates, SSA new issues and Commercial Paper / Medium Term Notes (MTNs), Loans and Leveraged Loans.

The relatively small size of our Paris office enables great connectivity across the location. For example, we now have regular conversations about optimising returns versus risk Weighted Assets (RWA). The size also helps facilitate content delivery with other locations across Europe and in London where feedback from European accounts is of key relevance for our UK clients.

We have a diverse range of nationalities on the floor which creates a good international feel. It’s important for me that our new joiners feel welcome, and the unique Paris environment definitely helps with their integration. 

What opportunities and challenges lie ahead for our customers in France?

Business opportunities in Paris can be very sizeable given the combination of one the largest investor bases in Europe and a large number of French FI, Corporates and FBG issuers. In addition, our Paris hub provides the ability to source significant talent given the large number of financial institutions that are now based in France. However, this can be a challenge. The French market is very competitive and many banks are able to provide significant balance sheet support to clients.

How would you describe NatWest’s purpose for the future?

We are determined to be a leading bank in addressing climate change and we need to communicate how we can help our clients to take advantage of the many opportunities that transitioning to a low carbon future offers.

Being based in Europe is rewarding thanks to our contribution to the Sustainable Funding and Financing target of NatWest, for example with a Notional of £1.375bn in Q1 this year.

What is the market impact of Macron’s re-election?

For once, the opinions polls were quite accurate and therefore the market reaction after the second-round outcome was quite limited. Market focus is now on the parliamentary elections in June where Macron needs to have a majority so he can implement his programme for his second mandate.

What are NatWest’s plans in Europe?

We have a comprehensive European proposition in place which is vital to support NatWest Group’s overall strategy, predominantly for our core commercial, corporate and institutional customers with significant requirements in Europe. We’re continuing to invest in our teams across Europe in line with our purpose to champion potential. Last year, we announced our plans to create a ring-fenced entity in Europe, which will allow us to maximise our ability to support UK customers as they seek to increase economic activity and investment in Europe.

This article has been prepared for information purposes only, does not constitute an analysis of all potentially material issues and is subject to change at any time without prior notice. NatWest Markets does not undertake to update you of such changes.  It is indicative only and is not binding. Other than as indicated, this article has been prepared on the basis of publicly available information believed to be reliable but no representation, warranty, undertaking or assurance of any kind, express or implied, is made as to the adequacy, accuracy, completeness or reasonableness of the information contained in this article, nor does NatWest Markets accept any obligation to any recipient to update or correct any information contained herein. Views expressed herein are not intended to be and should not be viewed as advice or as a personal recommendation. The views expressed herein may not be objective or independent of the interests of the authors or other NatWest Markets trading desks, who may be active participants in the markets, investments or strategies referred to in this article. NatWest Markets will not act and has not acted as your legal, tax, regulatory, accounting or investment adviser; nor does NatWest Markets owe any fiduciary duties to you in connection with this, and/or any related transaction and no reliance may be placed on NatWest Markets for investment advice or recommendations of any sort. You should make your own independent evaluation of the relevance and adequacy of the information contained in this article and any issues that are of concern to you.

This article does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell any investment, nor does it constitute an offer to provide any products or services that are capable of acceptance to form a contract. NatWest Markets and each of its respective affiliates accepts no liability whatsoever for any direct, indirect or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein. However this shall not restrict, exclude or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.

NatWest Markets Plc. Incorporated and registered in Scotland No. 90312 with limited liability. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. NatWest Markets N.V. is incorporated with limited liability in The Netherlands, authorised and supervised by De Nederlandsche Bank, the European Central Bank and the Autoriteit Financiële Markten. It has its seat at Amsterdam, The Netherlands, and is registered in the Commercial Register under number 33002587. Registered Office: Claude Debussylaan 94, Amsterdam, The Netherlands. NatWest Markets Plc is, in certain jurisdictions, an authorised agent of NatWest Markets N.V. and NatWest Markets N.V. is, in certain jurisdictions, an authorised agent of NatWest Markets Plc. NatWest Markets Securities Japan Limited [Kanto Financial Bureau (Kin-sho) No. 202] is authorised and regulated by the Japan Financial Services Agency. Securities business in the United States is conducted through NatWest Markets Securities Inc., a FINRA registered broker-dealer (http://www.finra.org), a SIPC member (www.sipc.org) and a wholly owned indirect subsidiary of NatWest Markets Plc.

Copyright © NatWest Markets Plc. All rights reserved.

scroll to top