BNP Paribas Asset Management (BNPP AM) has named Mark Richards as the head of Flexible & Absolute Return, which is a part of its Multi-Asset, Quantitative & Solutions (MAQS) investment unit.
Richards has already joined BNPP AM and is currently based in London. He reports to Maya Bhandari, global head of the firm’s Multi-Asset division.
In his new position, Richards will look after BNPP AM’s flexible and absolute return funds. He will also help in aligning the company’s portfolio with the opinions of the Investment Committee.
Richards will work together with the MAQS team to discuss investment ideas and will help develop new MAQS offerings.
Prior to the new appointment, Richards worked as a senior fund manager at Jupiter Asset Management. In that role, he was involved in the identification and execution of major investments across various multi-asset policies.
Before JUPITER, he served as strategist, both buy-side and sell-side, at JP Morgan Asset Management, PIMCO, Credit Suisse and ING.
Bhandari said: “Mark has more than 20 years’ experience of economics and financial markets experienced gained at leading sell-side and buy-side institutions, during which time he has successfully generated and implemented investment ideas across a range of countries, sectors, factors and themes.
“His addition to the team will be invaluable as we expand our multi-asset capabilities and continue to deliver sustainable returns to our investors in a challenging macroeconomic environment, and I look forward to working with him.”
Currently, MAQS handles a total of €135bn assets, which include nearly €116bn in multi-asset portfolios owned by institutional and intermediary customers across the globe.