New APAC head for BNP Paribas Securities Services
BNP Paribas Securities Services has announced the appointment of a new Asia Pacific region head.
The company announced this week that Philippe Benoit had become Asia pacific region head, based in Hong Kong, succeeding Lawrence Au,
The company's announcement said Benoit would be responsible for continuing to grow the securities services business in Asia Pacific, which had more than tripled its assets under custody over the past five years.
It said BNP Paribas Securities Services is now present in eight markets in the region — Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, and Singapore — where it employs close to 2,000 people.
Confirming the appointment, BNP Paribas Securities Services general manger, Patrick Colle said the company's business in the Asia Pacific was growing fast.
"Market participants are increasingly turning to us to help them adapt to the region's changing market landscape, which is being transformed by initiatives such as the RMB internationalisation, pension fund reforms, and the various cross border fund passports," he said.
"We see plenty more opportunities in the region as the landscape continues to evolve. Philippe's role will be to seize these opportunities to take our business in Asia Pacific to the next level."
Benoit was previously global head of finance, legal and ALM Treasury for BNP Paribas Securities Services based in Paris.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
