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.
BNP Paribas has more than tripled its assets under custody over the past five years under the leadership of Philippe Benoit.
Bon spent 17 years at JP Morgan in a variety of senior roles in New York and London, most recently leading the direct and global custody business in the Americas.
BNP Paribas will provide CMC Markets with custody and settlement services for its trading activities across 11 countries.
The appointment comes as BNP Paribas prepares to onboard €240 billion of assets for DWS on to its fund administration platform.
The hire marks BNP Paribas’ strategy to grow its fund administration business for hedge funds and private capital funds for the region.
Buy-side and sell-side are challenged with implementing real technological solutions as constant innovations continue to flood the market.
The bank has already automated 40 processes through RPA for its securities services business, and is looking to deploy AI in a number of client-facing areas.
BNP Paribas is half-way through a five-year programme focusing on implementing digital initiatives across the group.
BNP Paribas has made a number of senior appointments to its Asia-Pacific securities services team in recent months.