She has overall responsibility for strategy, business development, products and services to the custodian bank’s asset manager clients and prospects.
Ms. Fontan reports to Charley Cock, head of client development and Philippe Ricard, head of asset and fund services at the bank, which has almost $8tril in assets under custody.
Commenting on her appointment, Ms. Fontan said: 'I am pleased to take on this new position at this pivotal time in global finance. Asset managers, now more than ever, need support around fund administration and distribution. They need to outsource certain activities to focus on their core business, and they are still pondering how best to optimise their collateral in the new environment.
'We are well placed with a suite of services that help global asset managers protect their investments, service their assets, measures performance and optimise investment strategy', continued Ms. Fontan, 'and I look forward to further developing our franchise'.
Cock, who is also a member of the Securities Services executive committee said: 'Florence stood out among a very competitive field of internal and external candidates because of her remarkable achievements within BNP Paribas, her track record supporting our business development efforts and her deep understanding of asset servicing and market infrastructure. Having also played a key role in interpreting the regulation that is now shaping the operating environment for asset managers and institutional investors, she will bring unique insight to our clients'.
Ms. Fontan was most recently the head of public affairs at BNP Paribas Securities Services, a position she held since 2007. In that role, she was in charge of helping the bank comply with regulatory change, and helping its clients adapt to the changing environment. She joined BNP Paribas in 1998 following a ten year career in management consulting at Arthur Andersen. Ms. Fontan has been replaced as the head of public affairs by Laurence Caron-Habib, a public affairs specialist who joined the bank’s public affairs team in 2007.
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a global custodian with a proprietary sub-custody network in 26 countries across five continents.