BNP Paribas Securities Services reshuffles APAC leadership

BNP Paribas has more than tripled its assets under custody over the past five years under the leadership of Philippe Benoit.

By Joe Parsons

BNP Paribas Securities Services has appointed a new head of Asia-Pacific, while also promoting the current head to take on a senior strategy role at the business.

Mostapha Tahiri will succeed Philippe Benoit as head of Asia-Pacific from 1 February, as Benoit relocates to Paris to become head of strategic business development and transformation.

Tahiri will be responsible for expanding the securities services business in the region, which has more than tripled its assets under custody over the past five years.

He will be based in Singapore and report to Jose Placido, global head of client development, and Eric Raynaud, CEO for the bank’s Asia-Pacific business.

Tahiri was previously head of institutional investors and head of digital transformation for the region. He moved to Asia in 2009 to develop and expand the French custodian’s buy-side franchise.

BNP Paribas has made a number of senior appointments to its Asia-Pacific securities services business over the past couple of months.

In November, it recruited Caleb Wong from State Street in a newly-created role as head of alternative investors for Asia-Pacific, with the aim to boost its hedge fund services franchise in the region.

It also hired Diana Senanayake from RBC Investor and Treasury Services (RBC I&TS) as CEO of its Singapore business in July.