BNP Paribas today announced that Paul Yang will become Head of Asia Pacific (APAC), in addition to his role as CEO of Corporate and Institutional Banking (CIB) APAC, succeeding Eric Raynaud from December 1, 2020.
Mr Raynaud will retire from BNP Paribas in December, after a more than 40-year career in banking including more than half of that time in Asia.
“Over the last 10 years, Eric successfully drove the Group activities in the APAC Region, and considerably developed our presence while consolidating our business franchises. I wish him all the best for his personal future,” said BNP Paribas CEO Jean-Laurent Bonnafé. “I have great confidence in Paul to achieve new successes in the region, leveraging on the solid foundations that we have built in Asia Pacific and strengthened under Eric’s leadership.”
With more than 30 years’ experience at BNP Paribas in senior executive roles in France and Asia, Mr Yang is well-placed to continue developing the APAC franchise and enabling clients to grow their own businesses in the fast-changing region. In his expanded role, Mr Yang, will oversee all the Group’s activities in APAC, whilst continuing to act as CEO of CIB Asia Pacific. His extensive knowledge of the region, combined with a diversified experience coupled with the long-planned transition, will ensure strong continuity of service for clients.
Paul Yang’s biography can be found here.
Press contact:
Ayesha de Kretser +852 5239 8017 ayesha.dekretser@asia.bnpparibas.com
Kristen Carter +852 2909 8821 kristen.carter@asia.bnpparibas.com
Ruby Lo +852 2909 8847 ruby.y.lo@asia.bnpparibas.com
BNP Paribas Securities Services, a leading global custodian, has appointed Franck Dubois as Regional Head of Asia Pacific, effective 1 September 2020.
In his new role, Mr Dubois will continue to expand the BNP Paribas Securities Services’ business in Asia Pacific, where it has achieved an average yearly increase of +18% in assets under custody over the last six years. Having won a number of significant mandates in recent years, BNP Paribas has established itself as a fast-growing and innovative market leader in the region.
Paul Yang, CEO of CIB Asia Pacific at BNP Paribas, said: “With Franck’s deep industry knowledge, we are confident that our business will continue to grow for our clients across Asia Pacific. Franck brings with him direct experience from our biggest markets in Europe, as well as knowledge of the local environment having previously worked in Hong Kong.”
Alessandro Gioffreda, Global Head of Territory Management at BNP Paribas Securities Services, said: “Franck brings a wealth of client and operations experience to this important role in charge of one of our fastest-growing regions. Under his leadership, we intend to continue to grow our business in Asia Pacific, positioning ourselves as a long-term partner to our clients and accompanying them in their domestic and international development.”
A securities services industry expert, Mr Dubois has held a range of senior roles within the bank’s Corporate and Institutional Banking (CIB) and Securities Services businesses in Asia Pacific and Europe. He was most recently Head of France and Belgium for Securities Services.
Mr Dubois will be based in Hong Kong and will report regionally to Mr Yang and globally to Mr Gioffreda.
Press contact
Kristen Carter +852 2909 8821 kristen.carter@asia.bnpparibas.com
BNP Paribas China Ltd has become the first foreign bank to underwrite an onshore corporate bond issued by a Chinese domestic issuer in the China market, after being awarded the Type-A Corporate Bond Lead Underwriting Licence in September this year.
BNP Paribas China Ltd acted as a joint lead underwriter for China Universal Leasing Co. Ltd’s RMB 500 million bond, issued on December 9. The super short-term commercial paper marks the first time a foreign financial institution has worked with a domestic player to issue in the world’s second-biggest market.
CG Lai, CEO of BNP Paribas China Ltd, said: “We are honored to become the first foreign bank to underwrite a bond issued by a Chinese domestic company, underscoring our consistent commitment to China. As a fully-licenced bank, BNP Paribas brings the strength of our comprehensive onshore expertise to continually help more foreign investors navigate China’s market and deepen our engagement in China’s domestic financial market to help our clients achieve their long-term business ambitions.”
George Sun, Head of Global Markets for Greater China, said: ”We are pleased to successfully complete this deal and we will look into more opportunities that can help both onshore and offshore clients tap into the growing potential of China’s domestic bond market. ”
BNP Paribas China Ltd was granted a Type-A licence, allowing it to lead underwrite domestic corporate debt from Chinese companies, from China’s National Association of Financial Market Institutional Investors in September. Previously, BNP Paribas China was awarded the Type B licence in December of 2018.
Press Contacts
Ayesha de Kretser +852 2108 5458 ayesha.dekretser@asia.bnpparibas.com
BNP Paribas today announces the following appointments in its Wealth Management division in Asia Pacific: Andy Chai, currently Head of Wealth Management Greater China Markets, and Arnaud Tellier, Head of Wealth Management Singapore and Southeast Asia, are appointed as co-CEOs for Wealth Management in Asia Pacific. The appointments are effective 8 October, 2019.
Mr Chai and Mr Tellier will assume joint responsibility for the strategic direction and operations of BNP Paribas’ Wealth Management business in the region.
Mr Chai will have oversight of the Greater China markets including mainland China, Hong Kong SAR and Taiwan and lead the Strategic Client segment across Asia. Arnaud will cover the Southeast Asia, India and International markets while investment services and key support functions will report to him.
Both will report hierarchically to co-CEO of BNP Paribas Wealth Management, Vincent Lecomte, and functionally to CEO Asia Pacific of BNP Paribas Group, Eric Raynaud.
David Lim, a Market Head for Southeast Asia, is appointed Head of Wealth Management Singapore and Southeast Asia, reporting to Mr Tellier.
Pierre Vrielinck, who has held the position of CEO Asia Pacific since 2017 and made excellent contributions to refocusing growth of the franchise, will return in December to a senior leadership role within BNP Paribas Wealth Management in France.
Veteran BNP Paribas banker, Mignonne Cheng, will retain her role as Asia Chairman for Wealth Management and continue to bring her strategic vision and extraordinary client knowledge to the franchise.
Commenting on these appointments, Vincent Lecomte, co-CEO of BNP Paribas Wealth Management, stated: “Asia represents a key growth engine for BNP Paribas Wealth Management and we are committed to deepening our engagement with our private clients. Under the combined leadership of Andy and Arnaud, with their long and successful track records at BNP Paribas, I am confident that our franchise will go from strength to strength to continue fulfilling our clients’ expectations.”
Eric Raynaud, CEO Asia Pacific for BNP Paribas Group, said: “Our Wealth Management franchise is a cornerstone of our “One Bank” approach, enabling us to meet both the personal and professional financial needs of High Net Worth clients across Asia. With the rich experience of Andy and Arnaud, spanning both Corporate and Institutional Banking as well as private banking, I look forward to the strong and sustainable growth of our Wealth Management platform for years to come.”
Press contact:
Ruby Lo +852 2909 8847 ruby.y.lo@asia.bnpparibas.com
Geraldine Ding +65 6210 1291 geraldine.ding@asia.bnpparibas.com
BNP Paribas announced today a pioneering agreement with Morningstar, a leading independent investment research provider, to source equity research in APAC for its buy-side clients.
Under the terms of the agreement, BNP Paribas will source independent equity research from Morningstar in five key territories, excluding India. This will consist of around 150 stocks in China, Hong Kong, Singapore, Korea and Taiwan across six key sectors: financials, real estate, consumer, TMT, energy / natural resources and healthcare. BNP Paribas will be the exclusive sell-side cash equities provider distributing this Morningstar research to the buy-side in APAC. Collectively, the relationship will bring BNP Paribas’ total coverage in the region to around 330 stocks including India, where it will continue to undertake equity research in-house.
With recent changes in regulatory and market conditions, banks have sought to adapt their sell-side cash equity research models, while continuing to meet clients’ needs. In this context, BNP Paribas’ announcement pioneers a new and innovative model in APAC that is sustainable and scalable, while enabling it to continue to provide clients with high quality, fundamental research.
Moreover, the relationship will enable BNP Paribas to strengthen its equity distribution platform and further grow its Equity Capital Markets (ECM) franchise in Asia. In addition, the relationship mirrors BNP Paribas’ successful set-up in EMEA where Exane BNP Paribas, Europe’s #1 ranked equity research house according to Extel, has operated in partnership with BNP Paribas Corporate and Institutional Bank for more than 15 years.
Hugo Leung, CEO of BNP Paribas Securities, said: “today’s announcement represents an innovative change to how we undertake cash equity research for the buy-side in APAC. The new model enables us to continue delivering what our clients want – strong, credible research in existing and new companies that they are interested in investing in – with the advantage of scalability as our clients’ needs evolve.
“This should ensure the long-term sustainability of our business model and underpin our strong ambitions in cash equities and ECM, both of which we remain fully committed to. Furthermore, we remain fully committed to continuing to provide top quality research across multi-asset classes to our clients in all major markets across the region, and we are pleased to work with Morningstar in this context.”
Lorraine Tan, Director of Equity Research for Asia, Morningstar, said: “Morningstar stands unique in our commitment to providing research that delivers an independent view on stocks from the investor’s perspective. We applaud the vision of BNP Paribas in turning to our strong equity research capability. The agreement with a sell-side cash equity and capital markets provider in Asia.”
Press contact:
Andrew Achimu +852 2108 5457 andrew.achimu@uk.bnpparibas.com