Benoit to take helm of BNPP Securities Services in Asia

BNP Paribas Securities Services has appointed Philippe Benoit to head up its operations in the Asia Pacific.

Benoit takes over the helm from Lawrence Au, who will remain with the bank as an executive advisor as he begins planning his retirement. Au will continue to have strategic oversight of key client relationships in the region and act as executive sponsor for key project in Greater China.

Benoit will be tasked with continuing to grow BNPP Securities Services’ Asia Pacific presence, which it claims has more than tripled its assets under custody over the past five years and now operated across eight markets.

Patrick Colle, general manager of BNP Paribas Securities Services, commented: “Our business in Asia Pacific is 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. We see plenty more opportunities in the region as the landscape continues to evolve.”

Benoit has been with BNPP Securities Services since 2002 and was more recently global head of finance, legal and ALM treasury, based in Paris. Prior to this he spent eight years in PwC’s banking department.