Wargo joined the bank in New York in 2013 to spearhead its securities lending push in North America.
Based in New York, Wargo was responsible for product development and operational strategy.
He joined the bank from Wells Fargo, where he spent 13 years, most recently as head of trading and investments for securities lending.
It’s not clear who will replace Wargo at BNP Paribas. William Mauer, who was drafted into Wargo’s agency lending team following his appointment in 2013, joined SmartStream last year.
Vice president Claire McKinlay Reilly and director and head of trading and investments Michael Saunders remain a part of the North American agency lending team at BNP Paribas.