BNP Paribas Securities Services has hired Caleb Wong in a newly-created role as head of alternative investors for Asia-Pacific (APAC), as it looks to boost its hedge fund franchise in the region.
Wong joins from State Street’s Alternative Investment Solutions business, where he was responsible for its limited partners servicing, private equity and real estate administration business in APAC.
Based in Singapore, Wong will look to grow BNP Paribas’ fund administration business for hedge funds and private capital funds for the region.
“We have been building out our client solutions for alternatives across the region since 2015, and we are winning landmark client mandates,” said Mostapha Tahiri, head of institutional investors, Asia-Pacific, BNP Paribas Securities Services.
“Caleb’s expertise and experience in Asia-Pacific will be very valuable for us to further accelerate our development and enhance our capabilities in this fast growing and exciting sector.”
BNP Paribas is aiming to use its integrated bank model to service specialised investors and regional asset managers, Tahiri added, and has been developing technology and data solutions to enhance the digital experience for alternative managers.
BNP Paribas has made a number of senior appointments to its hedge fund services business in the region, which included a new head of prime brokerage sales for APAC and a new global head of hedge fund services.
It also hired Diana Senanayake from RBC Investor & Treasury Services as head of its Singapore securities services division.
“Caleb’s appointment follows a number of recent strategic hires aimed at bolstering our alternatives offering globally, and positions us perfectly to develop our services in a burgeoning Asia Pacific region,” added Ian Lynch, global head of alternative investors, BNP Paribas Securities Services.