BNP Paribas Securities Services has appointed Philippe Benoit as head of its Asia Pacific (APAC) region, effective 1 January 2016.
Benoit, who will be based in Hong Kong, will be replacing Lawrence Au, who will remain with BNP Paribas in the capacity of an executive advisor.
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Au in this new role will have strategic oversight on selected key client relationships in the region and act as executive sponsor for key projects in Greater China, the company said.
Benoit will be responsible for continuing to grow the securities services business in Asia Pacific, which has more than tripled its assets under custody over the past five years.
Prior to the latest appointment, Benoit was global head of Finance, Legal and ALM Treasury for BNP Paribas Securities Services based in Paris. He joined BNP Paribas Securities Services in 2002 after spending eight years in the banking department of PWC, including two years in New York.
BNP Paribas Securities Services is now present in eight markets in the region – Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand and Singapore – where it employs close to 2,000 people.
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By GlobalDataCommenting on the appointment, BNP Paribas CEO for Asia Pacific Eric Raynaud said: "Over the last five years, Lawrence has built a successful franchise in the region enabling BNP Paribas to become a fast growing market leader in the securities services sector. Philippe will play a key role in furthering these developments and continuing the business growth in Asia Pacific."
