BNP Paribas Securities Services has hired a 10-year State Street alternatives investments expert to lead global head fund services.
Diarmuid Ryan joins in the new global role and will be responsible for deepening relationships with new and existing clients across Europe, the US and Asia-Pacific.
Ryan was previously a senior managing director for State Street’s Alternative Investment Solutions, where he was globally responsible for client services and operations across the US, Canada, Ireland and Asia.
Prior to State Street, Ryan worked at Citi in client operations and project management, and before that a similar role at Investec.
“As alternative investment strategies become more mainstream and investors continue to seek out absolute returns, operational efficiency and service delivery innovation will become increasingly critical,” said Ian Lynch, global head of alternatives, BNP Paribas Securities Services.
“Our continued growth and investment in this space ensures that we are well positioned to support clients’ operations as they focus on their core growth objectives.”
Ryan will be based in Dublin, reporting to Lynch.
The French bank has identified hedge funds as a key growth target over the past year, being one of a small group of remaining bank-owned hedge fund administrators.
In September, BNP Paribas also created two new global roles within its prime brokerage business, with a focus on trading and sales services to hedge funds.