The appointment rounds off the global restructuring of HSBC's securities services leadership, following the appointment of two new global co-heads for the business.
The move is the latest effort by custodians to expand into the front-office; however, Northern Trust is the first to take on certain trading activities for asset managers.
CrossWise was launched earlier this year for asset managers to optimise their operating model by combining its front and back-office services.
HSBC's former head of Americas securities services has relocated to London to focus on its banks and broker-dealer clients.
Middle-office outsourcing has been highlighted as one of the most preferred methods to cut costs at asset management firms
CACEIS will also act as the main listed derivatives clearer for the French investment bank.
The UK asset manager will consolidate its asset servicing relationships for its UK and Ireland fund ranges and use BNY Mellon as its sole outsourcing provider.
CrossWise was launched at the end of April to enable asset managers and banks/broker-dealers to outsource as many services as needed
New product launches, technological challenges and cost pressures will all accelerate outsourcing according to BNP Paribas’ asset management head.