BNP Paribas Securities Services (BNPSS) has merged its sales, marketing and relationship management teams, promoting Chris Briant to run the area and opening a couple of vacancies.
The former head of sales said he would now be responsible for bringing in new business, as well as retaining and cross-selling to existing clients. The former head of relationship management, Gordon McKellar, has become co-head of operations alongside Susan Jorgensen. McKellar will oversee the client-facing aspects of operations, while Jorgensen will oversee the ongoing change management program within the division, with a particular focus on BNPSS’ biggest client, AMP. Briant said the restructure, which was developed by BNPSS’ outgoing and incoming chief executives, Gail Burke and Jean-Marc Pasquet, was aimed at “getting more firepower on the ground in operations”. McKellar’s shift means Briant is seeking to recruit additional people for his team. He said a senior and more junior position were currently available, and claimed to have been “inundated with resumes from other custodians”. However, he said importing sales and relationship staff from BNPSS’ international network was a possibility. Meanwhile, the Catholic Superannuation and Retirement Fund has renewed its master custody contract with BNPSS for a further five years, following a competitive tender process finalised last month.
The $34 billion Brighter Super is set to shift around $10 billion of assets from passive to active management. Chief investment officer Mark Rider says the move is possible because of scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
