BNP Paribas Securities Services has appointed Linda Morsia as head of its depositary banking business in the U.K.
Morsia joins from State Street Trustees, where she was head of client management, sales and business development. She has worked in operations, compliance, client relationship and sales roles. She reports to Arnaud Claudon, head of depositary banking at BNP Paribas Securities Services.
Commenting on the appointment, Claudon says, “The U.K. is a key market for us and we are delighted that Linda has joined our team to oversee the development of the business.”
BNP Paribas launched its depositary bank in the UK in 2012 in response to demand from its UCITS clients as well as the impending implementation of AIFMD. Under the directive, non-UCITS funds in Europe must appoint a depositary bank to provide cash monitoring, safekeeping and oversight of assets.
BNP Paribas has increased the number of locations where it offers depot bank and trustee services to 12 in Europe and two in Asia. The bank has also rolled out these services in the Netherlands and Switzerland this year.
Since the UK launch, BNP Paribas has been appointed by more than 10 fund managers to act as depositary for more than 40 U.K. alternative investment funds investing across listed, unlisted and alternative assets.
BNP Paribas Appoints Head of Depot Bank Business in the U.K.
BNP Paribas Securities Services has appointed Linda Morsia as head of its depositary banking business in the U.K.