Ren may head BNP investment banking biz in China

Margaret Ren, the former investment banking chairwoman of Merrill Lynch & Co China is set to join BNP Paribas SA to manage its advisory business in China, two people familiar with the situation said.

Ren would be the chairwoman and chief executive officer of investment banking for Chinese mainland, Hong Kong and Taiwan, one of the people said, asking not to be identified before an announcement.

BNP Paribas, France's biggest bank, has been trying to boost revenue by diversifying its strategy of focusing on small- to mid-cap firms. Ren, who plans to start before September, will try to win business from Chinese State-owned companies that are considering share sales or acquisitions, the sources said.