Pierre Jond, Managing Director of BNP Paribas Securities Services (BNP Paribas), Australia and New Zealand, has announced that he will return to Paris in December 2013 after four years in his current role.
Peter Baker (current Head of Client Strategy and Communication) has been announced as his successor, and will officially take over the role at the end of 2013. In addition, Michelle Crosbie has taken on the role of new COO for Australia and New Zealand.
Jond was appointed at the start of a significant building phase for the business and during his tenure the Australian location has obtained its banking license, moved onto a global custody system in line with BNP Paribas’ global model and invested heavily in system development and commenced listed derivatives clearing. This period also saw Australia become one of 25 BNP Paribas locations to offer local custody to overseas clients. Pierre also saw through the successful completion of the joint-migration project with AMP and the on-boarding of over AUD$100 billion of assets under custody in a single year in 2012.
Jond, said: 'It has been very satisfying to navigate the Australian and New Zealand business through a period of important building and investment. We are poised for growth and it is the right time to hand over to a new head with strong links to the local industry'.
Baker was recruited to the company 18 months ago. He brings over 25 years experience to the role, gained most recently at State Street Investor Services as Managing Director, Australia, New Zealand and South East Asia; Managing Director UK, Middle East and Africa; and Managing Director Asia ex-Japan.
Of his new appointment, Baker, commented: 'Our investment over the last four years has delivered a matured business model, and coupled with our status as the second largest Australian provider by assets under administration*, we have never been better placed to offer new and existing clients the opportunity to leverage our strength, and I am excited to take on this new role'.
The six month lead time is giving Baker the opportunity to meet with all clients and be fully briefed prior to taking over the role, ensuring a smooth transition.
Michelle Crosbie has taken on the role of Chief Operating Officer of BNP Paribas Securities Services, Australia & New Zealand. Michelle is a New Zealand national and has over 25 years local experience having held roles as Head of Operations at JP Morgan WSS and Head of Relationship Management for NAS. She has been with BNP Paribas for the last five years where she was COO for Securities Services based in London, developing strong ties with head office.
Jond, added: 'Michelle and Peter both have significant experience in the custody business and a deep understanding of the local markets. I am confident that these appointments will reinforce our local presence and play to our strengths as a leading custodian'.