BNP Paribas Securities Services has appointed Philippe Benoît as head of the Asia Pacific region to replace Laurence Au, who is beginning to plan for his retirement.
Benoît will now be responsible for growing the securities services businesses in Asia Pacific, where BNP Paribas has seen its assets under custody triple over the last five years.
Previously, he was global head of finance, legal and anti-money laundering treasury for BNP Paribas Securities Services in Paris. He has been with the bank since 2002, and before this he spent eight years in the banking department at PwC.
Au will remain at BNP Paribas Securities Services as an executive advisor. He will have strategic oversight on selected client relationships in the region, and will be an executive sponsor for projects in China.
Patrick Colle, general manager of BNP Paribas Securities Services, said: “Our business in Asia Pacific is growing fast. Market participants are increasingly turning to us to help them adapt to the region’ s changing market landscape, which is being transformed by initiatives such as the renminbi internationalisation, pension fund reforms and the various cross border fund passports.”
Eric Raynaud, CEO of BNP Paribas in Asia Pacific, added: “Over the last five years, [Au] has built a successful franchise in the region, enabling BNP Paribas to become a fast growing market leader in the securities services sector. [Benoît] will play a key role in furthering these developments and continuing the business growth in Asia Pacific.”
