BNP Paribas: Succession Time

Philippe Benoit Lawrence Au

BNP Paribas Securities Services, a global custodian with US$9 trillion in assets, has announced a change of leadership in the Asia Pacific region.

Philippe Benoît (pictured right) has been appointed head of the Asia Pacific region, effective 1 January 2016. Based in Hong Kong, Philippe Benoît 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. 

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.

Coming From Paris

Philippe Benoît succeeds Lawrence Au (pictured left) who remains with the bank as an executive adviser as he starts his retirement planning.  In this new role, Lawrence Au will have strategic oversight on selected key client relationships in the region and act as executive sponsor for key projects in Greater China.

Prior to the latest appointment, Philippe Benoît 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.

Fast Growing Market

Patrick Colle, General Manager of BNP Paribas Securities Services, commented: «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 RMB internationalisation, pension fund reforms and the various cross border fund passports. We see plenty more opportunities in the region as the landscape continues to evolve. Philippe’s role will be to seize these opportunities to take our business in Asia Pacific to the next level.»

Eric Raynaud, CEO of BNP Paribas in Asia Pacific, 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.»

 

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.