(Reuters) – French banking group BNP Paribas announced on Monday the appointment of Guneet Dhingra as head of rates strategy in the United States and James Egelhof as chief economist for the United States within its market strategy division.

The United States has become a crucial growth driver for European banks, including BNP Paribas, as they seek to expand their presence around the world. Clients in the region face a challenging macroeconomic landscape, with the U.S. Federal Reserve working to lower benchmark interest rates amid mixed economic signals.

Guneet Dhingra joins BNP Paribas after spending 16 years at Morgan Stanley, where he was most recently responsible for the rates strategy in the United States.

In his new role, he will be responsible for the French bank’s coverage of American interest rate products including Treasuries, or swaps.

James Egelhof, who most recently led global fundamental research at hedge fund Jane Street, will oversee BNP Paribas’ coverage of the U.S. economy, including forecasts for growth, inflation and monetary policy.

Previously, he spent ten years at the Federal Reserve Bank of New York, where he led a multi-asset quantitative research team focused on monetary policy strategy and global market analysis.

“The appointments of Guneet and James will strengthen our ability to anticipate and respond to market developments,” said Luigi Speranza, head of Markets 360 and chief economist at BNP Paribas.

BNP Paribas indicated that the two newcomers will report to Calvin Tse, who has been named head of macro-strategy for the Americas and whose responsibilities have been extended to the American economy.

(Reporting Manya Saini in Bangalore and Lananh Nguyen in New York; Bertrand De Meyer, edited by Augustin Turpin)

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