BNP Paribas has appointed Stanley Song as Co-Head of BNP Paribas Ssecurities Services in China with immediate effect as it continues to expand and develop in one of the bank’s key strategic markets in Asia.  Stanley is based in Shanghai and reports to CG Lai, Chief Executive Officer of BNP Paribas China Limited and Franck Dubois, Head of Asia Pacific for BNP Paribas Securities Services. He joins Philippe Kerdoncuff, who has been steering BNP Paribas Securities Services since 2016, in the Co-Head role.

In this role, Stanley is responsible for strengthening and expanding the bank’s asset servicing capabilities in China; which has seen remarkable growth in recent times.  He is also charged with accelerating the growth of the firm’s China Access programme – which supports international investments into and from China using the different investment routes.

Prior to joining BNP Paribas Securities Services, Stanley was head of Securities Services for Deutsche Bank China.  He previously held senior client management and fund services roles at HSBC, State Street and Standard Chartered in China.

CG Lai, Chief Executive Officer of BNP Paribas China Limited, said: “We are delighted to welcome Stanley to BNP Paribas, who brings a wealth of asset servicing and an excellent knowledge of different client types of custodial servicing needs.  Stanley’s appointment is very timely as we continue to deepen our comprehensive onshore expertise to help more investors navigate China’s domestic financial market.”

Franck Dubois, Head of Asia Pacific at BNP Paribas Securities Services, said: “Stanley’s appointment will further BNP Paribas Securities Services’ growth ambition in China – a key market for BNP Paribas – while we continue to invest in technology and local talent to provide value added global asset servicing experience for our clients.  Our globally-connected business solutions – coupled with on-the-ground experts who are knowledgeable in local market nuances – enable us to support clients in Asia, Europe, and the Americas investing into China or for Chinese institutions to invest internationally.”

Stanley holds a Bachelor Degree in Business Administration from the prestigious East China Normal University in Shanghai.

BNP Paribas was granted in 2021 a Qualified Foreign Institutional Investor (QFII) custodian and settlement licence enabling it to directly support foreign institutional investors across the full scope of schemes allowing access to China’s equities and bond markets, in addition to providing a full range of foreign exchange services.  The bank also holds a bond settlement agent licence for the China Interbank Bond Market (CIBM), a Type-A Corporate Bond Lead Underwriting Licence and a Panda Corporate Bond Lead Underwriting Licence Type B. 

Press Contact
Terence Ng terence.ng@asia.bnpparibas.com

BNP Paribas Wealth Management today announced the appointment of Ruth Chung as Greater China Market Head, effective immediately.

In this newly created role, Ruth is responsible for leading the Greater China Market out of Singapore, and having ultimate responsibility for Taiwan offshore teams out of Hong Kong and Singapore.

Ruth brings 30 years of industry experience to the Bank. Prior to joining BNP Paribas Wealth Management, she was the Market Group Head of Greater China at Bank Pictet & Cie Singapore. Ruth spent over two decades in UBS, taking on various leadership roles with Taiwan International business, China International business and Greater China Ultra HNW business with teams in both Hong Kong and Singapore. In between her banking roles, Ruth also co-founded Sino Suisse Capital, an external asset management firm where she was the CEO of the Singapore office.

Arnaud Tellier, BNP Paribas Wealth Management CEO for APAC, said: “As the wealth creation in Asia continues to grow, both Singapore and Hong Kong are key to supporting the increasingly sophisticated wealth needs of Greater China clients. BNP Paribas Wealth Management has very established teams in Hong Kong to serve our Greater China clients, and we are committed to building the same capability in Singapore to complement our unique offering to our clients.”

“With Ruth’s appointment, we are in full force to capture the growth opportunities in Greater China. Ruth’s industry knowledge and leadership, together with our continued focus on our One Bank approach, will further strengthen our franchise in North Asia, allowing us to provide best-in-class services to our clients.” Arnaud continued.

Based in Singapore, Ruth reports directly to Michael Yong-Haron, Head of North Asia & CEO Hong Kong, BNP Paribas Wealth Management and locally to David Lim, Head of Singapore and Southeast Asia, BNP Paribas Wealth Management.

Press Contact
Charlene Hui charlene.hui@asia.bnpparibas.com

BNP Paribas today announced it acted as joint Sustainability Coordinator for the first Sustainability Linked Loan (SLL) for Treasury Wine Estates, with the refinancing of AU $1.4billion of existing debt linked to agreed sustainability targets.

A first for a wine company in the Asia-Pacific region, the SLL provides Treasury Wine Estates with financial incentives for successfully delivering against agreed sustainability performance indicators.

Key Performance Indicators (KPIs) include achieving 100% renewable electricity by 2024, reduced greenhouse gas emissions, reviewing water usage and footprint at a catchment level in 2022 and achieving 50% women in senior leadership and 42% female representation overall by 2025.

“BNP Paribas is proud of the role we have played supporting Treasury Wine Estates on its sustainability journey with the first ever Sustainability Linked Loan for the company,” said Noemie Peiffer, Head of Sustainable Finance, Capital Markets Group, Global Banking Asia Pacific at BNP Paribas.

“As one of the largest wine companies in the world, Treasury Wine Estates has a significant global footprint. By aligning its sustainability agenda with its financing strategy, Treasury Wine Estates deepens its commitment to having a positive impact across key Environmental, Social and Governance (ESG) metrics.

“As a global bank, we have an important role to play in building a world for future generations and have a responsibility to help create sustainable economies. This latest SLL is another example of BNP Paribas’ efforts and success in this regard,” continued Peiffer.

“BNP Paribas has partnered with Treasury Wine Estates since its formation as a stand-alone group 10 years ago, and our role as Sustainability Coordinator on this refinancing is a natural step in our support for the company,” said Mark Hutchinson, Head of Corporate Clients Group, BNP Paribas Australia and New Zealand. “It’s an honour to undertake such an important role in the on-going success of a leading Australian company.”

Treasury Wine Estates is a global winemaking and distribution business listed on the Australian Stock Exchange (ASX). Its Chief Financial Officer Matt Young said the premium winemaker was following through on its commitment to a lower carbon future.

“We’ve set ambitious targets to be powered by 100% renewable electricity by 2024 and reach net zero emissions (scope 1 and 2) by 2030. By transforming a significant proportion of our existing loans to SLLs, we are proactively incentivising our teams to progress towards our sustainability goals.

“Integrating sustainability within our financial framework is a vital step in building a resilient business for the long-term,” Young added.

BNP Paribas has been a pioneer of the sustainable finance market in Australia, bringing its global expertise to the local market and helping clients achieve meaningful progress in addressing their ESG ambitions.

 

Press contact:    

Kristen Carter             Kristen.Carter@asia.bnpparibas.com      +852 2909 8821

BNP Paribas today announced they acted as joint lead sustainability structuring advisor for BPEA’s Sustainability Linked Credit Facility, worth up to $3.2bn, with initial commitments of approximately $1.5bn. This landmark transaction is the largest-ever Sustainability Linked Loan for a private equity fund in Asia.

The financing, which follows the APLMA Sustainability Linked Loan Principles, incentivises BPEA to promote Environmental, Social and Governance (ESG) implementation throughout the investment process. The margin is linked to Sustainability Performance Targets (“SPTs”) focused on gender diversity and climate change, including: ESG risk and opportunity assessments at the investment evaluation stage; greenhouse gas emission reporting and reduction targets at portfolio company level and BPEA level; and building a stronger and more supportive environment for female talent in portfolio companies. Proceeds will be used to support BPEA’s private equity investment platform.

Ms Noemie Peiffer, Head of Sustainable Finance, Capital Markets Group, Global Banking Asia Pacific at BNP Paribas said: “We are incredibly proud of this transaction, which marks an important and innovative new source of funding for sustainable private equity investment.

“As a bank, we are committed to working with spectrum of clients, from private equity to corporates, to guide and advise them on their sustainability journey,” added Ms Peiffer.

Jean Eric Salata, Chief Executive and Founding Partner of BPEA, said: “We hope this pioneering debt facility we have created with the support of BNP Paribas will set a precedent for the private equity industry, not just in Asia but globally. As a longstanding proponent of taking action on ESG, we recognise the correlation between strong, sustainable business practices and value creation. The Facility’s ambitious targets incentivise our Firm and our investee companies to aspire to higher standards while also encouraging long-term thinking on key topics like climate change to drive positive change for the communities in which we operate.”

Founded in 1997, Baring Private Equity Asia (BPEA) is one of the largest private alternative investment firms in Asia, with $34bn of Assets Under Management (AUM).

Press contact:

Kristen Carter             Kristen.Carter@asia.bnpparibas.com      +852 2909 8821

BNP Paribas today announced it has been named a market maker for the Southbound leg of the China-Hong Kong Bond Connect Scheme, which officially launches on September 24 in Hong Kong. The first step in a move to open Hong Kong’s bond market to Chinese mainland investors, Southbound Bond Connect simplifies access and should encourage further liberalisation.

Since Bond Connect’s Northbound route first launched in July 2017, China’s bond market has taken over from Japan as the world’s second largest behind that of the United States. Foreign participation in China’s domestic market has more than doubled during this period, alongside the inclusion of Chinese bonds in major global indices.

“The launch of Southbound Connect demonstrates China’s commitment to an orderly opening of its outbound investment markets and gives confidence that further internationalisation should soon follow,” said Richard Cohen, Head of Primary & Credit Markets at BNP Paribas.

“BNP Paribas has been one of the most active international banks acting as market maker in the Northbound Bond Connect and Direct CIBM programs, and now we are pleased to be among the first batch of market makers in Southbound Bond Connect,” said George Sun, Head of Global Markets for Greater China at BNP Paribas.

The Bond Connect Scheme complements the existing QDII system to govern Chinese overseas investments. It is expected to smooth and streamline access to the Hong Kong market for Chinese domestic investors.

Press contact:

Kristen Carter   +852 6400 3291   Kristen.Carter@asia.bnpparibas.com

BNP Paribas today announced that Sanjay Singh will be appointed Chief Executive Officer of India. Sanjay Singh is to succeed Aymar de Liedekerke Beaufort following his nomination as Head of Territory, India. Both appointments will take effect on 1 September.

Since joining BNP Paribas Securities India eight years ago, Sanjay has assumed the CEO role of the Securities business as well as his current positions as Head of Global Markets and Deputy CEO of BNP Paribas India. Under his leadership, the Global Markets, FIC and Custody businesses have expanded, underpinning BNP Paribas’ leading position in India.

Commenting on his appointment, incoming Head of Territory India, Aymar de Liedekerke Beaufort, said: “With his deep experience running key divisions of our business, Sanjay is well placed to build on the success of our India franchise and drive further growth across our corporate and institutional activities. India remains a priority for BNP Paribas’ growth strategy in the region and I am confident that through working closely with Sanjay, we will maximise all the opportunities that lie ahead.”

 

Press Contacts
Manisha Khosla Sinha       manisha.khoslasinha@asia.bnpparibas.com     +919892047212

BNP Paribas today announced they acted as joint sustainability coordinator for Coles Group Limited’s (Coles) first Sustainability Linked Loan.

The total of AUD 1.3bn revolving credit facilities, which is also the first Sustainability Linked Loan (SLL) for a retail company in Australia, will finance general corporate funding requirements. The SLL is linked to Key Performance Indicators (KPIs) including a reduction in greenhouse gas emissions; a reduction in total waste going to landfill; and an increased percentage of women in leadership positions.

An independent third party will measure and report on Coles’ performance relative to the agreed KPIs, which are fully aligned with Coles’ sustainability ambitions, grouped under the focus areas of “Together to Zero” and “Better Together”.

Mr Jason Douglas, Managing Director Corporate Coverage at BNP Paribas Australia said: “We are proud to play a key role in Coles’ sustainable finance facilities.

“As a bank, we have a global commitment to direct capital where it can have a lasting, positive impact. This transaction exemplifies that approach, and we are delighted to partner with such an iconic Australian company on their sustainability journey,” added Mr Douglas.

Ms Leah Weckert, Chief Financial Officer of Coles, said: “Our purpose is to sustainably feed all Australians to help them lead healthier, happier lives. BNP Paribas is a global leader in sustainable finance, and by working together we are aligning our core values with our financing arrangements.”

BNP Paribas has been a pioneer of the sustainable finance market in Australia, bringing its global expertise to the local market and helping clients achieve meaningful progress in addressing their ESG ambitions.

Press Contacts

Ruby Lo                       Ruby.y.Lo@asia.bnpparibas.com             +852 2909 8847
Kristen Carter             Kristen.Carter@asia.bnpparibas.com      +852 2909 8821

BNP Paribas today announced it has been granted a licence to provide custody services for China’s Qualified Foreign Investor (QFI) scheme, effective immediately. This means BNP Paribas can now directly support foreign institutional investors across the full scope of schemes allowing access to China’s equities and bond markets, in addition to providing a full range of foreign exchange services.

BNP Paribas China Limited was one of the first foreign banks to be granted a bond settlement agent licence for the China Interbank Bond Market (CIBM) in 2016. BNP Paribas Securities Services Hong Kong also facilitates participation, via a special segregated account, in China’s Stock Connect schemes, as well as Bond Connect through its membership of the HKMA Central Moneymarkets Unit.

CG Lai, Chief Executive Officer, BNP Paribas China Limited said: “This newest QFI licence complements our cross-border product offering and will help to attract even more foreign investment into China’s bond and equity markets, which are fast becoming amongst the most important markets globally. BNP Paribas is undoubtedly one of the best-positioned foreign banks to support institutional investors in the China market.”

Philippe Kerdoncuff, Head of BNP Paribas Securities Services, China said: “As constraints on foreign participation in China’s markets abate, we expect a wave of renewed interest from offshore institutional investors. The licence also closely follows the removal of quotas and expansion of scope for investments under the QFI scheme, making this an exciting time for new entrants to the onshore custody space.”

BNP Paribas Securities Services has a global and multi-local offering, underpinned by a proprietary network of 27 markets and a global reach covering more than 90 markets.

 

Press Contacts

Kristen Carter    kristen.carter@asia.bnpparibas.com    +852 2909 8821
Ruby Lo    ruby.y.lo@asia.bnpparibas.com    +852 2909 8847

BNP Paribas today announced that Aymar de Liedekerke Beaufort has been appointed Head of Territory, India, and will retain his role as Head of Corporate and Institutional Banking (CIB). This will take effect on 1 September 2021.

A 30-year veteran of BNP Paribas, Aymar has served as CEO of BNP Paribas India S.A. branches and led CIB in India since December 2019. His previous positions at BNP Paribas include Head of Territory Vietnam, Head of Country for Czech Republic and Slovakia, Head of Country for Hungary and South Eastern Europe, Deputy Head of Corporate and Transaction Banking Europe, and Head of Corporate Coverage and Transaction Banking, Germany.

Commenting on his appointment, BNP Paribas Asia Pacific Chief Executive Officer Paul Yang said: “In his expanded role, Aymar will drive Group strategy within our important India operation and enhance our ability to help clients tap the full range of BNP Paribas solutions across our global network.”

Aymar will also oversee local governance and controls while deepening initiatives related to Corporate Social Responsibility and Sustainable Finance. He will succeed Franciska Decuypere, who will relocate to Europe to take on another senior role within BNP Paribas.

 

Press contact:

Manisha Khosla Sinha     manisha.khoslasinha@asia.bnpparibas.com    +912261965301

BNP Paribas today announced that Stephane Ritz has been promoted to Head of Global Markets Asia Pacific, effective June. In addition, Brian McCappin has been appointed Head of Global Markets Institutional Sales for the region.

A 26-year veteran of BNP Paribas, Mr Ritz has held a variety of senior trading and management roles in Hong Kong, Japan, Paris and London and will succeed Pascal Fischer under whom the business has grown steadily over the past years.

Commenting on the appointment, Head of Global Markets BNP Paribas Olivier Osty said: “We are pleased to have such a strong bench of internal talent from which to promote accomplished individuals to key roles. I have every confidence in Stephane’s ability to drive the business to even greater heights in APAC and beyond.”

BNP Paribas Asia Pacific Chief Executive Officer Paul Yang added: “Stephane’s outstanding global markets knowledge and extensive experience in Asia make him extremely well-placed to build on the growth of our Global Markets platform from our strong regional hubs and local markets in order to serve our clients.”

In this regard, Mr McCappin, who will join the Group as Global Markets Head of Institutional Sales Asia Pacific, will oversee commercial strategy and sales efforts across a range of institutional clients and global business lines. Working closely with the Regional Institutional Sales Managers in Europe and the Americas, Mr McCappin will help global financial institutions to grow across the 13 markets where the bank operates as well as to forge strong links for APAC financial institutions in their global ambitions.

BNP Paribas Global Head of Institutional Sales Talbot Stark said: “Asia Pacific has been the source of nearly half of the world’s inflows over recent years. Under Brian’s leadership and with the strength of his global client relationships, we will be able to unlock new opportunities for financial institutions across Asia Pacific’s diverse and thriving markets.”

Mr Ritz said: “Brian brings a unique background of global experience that will enable us to best leverage our extensive footprint and developed franchise. He brings the right balance of global and local expertise and insight into our diverse markets to help our clients grow.”

Mr Fischer, who successfully led the growth of the platform over the past three years, will take up a new role with the bank in June and relocate to Europe.


Press Contacts
Ruby Lo                       ruby.y.lo@asia.bnpparibas.com            +852 2909 8847
Kristen Carter             kristen.carter@asia.bnpparibas.com      +852 2909 8821