Global custodian bank BNP Paribas Securities Services has adjusted its operations in Australia to drive closer engagement with buy-side firms, as it seeks to expand its share of the country's custody market.
Fund managers and superannuation funds will be targeted in the reshuffle, which will involve the creation of a new position – head of client strategy and communications for BNP Paribas Securities Services Australia and New Zealand.
The new role will be occupied by Peter Baker, who will be promoted from his current role as head of asset manager client relationships, and he will drive strategy behind client relationships.
"Having cemented our strategy by securing an Australian banking licence and expanding our product suite, we want to build on our position as the third largest custodian in Australia by changing the way we engage clients and the broader market," said Pierre Jond, managing director, BNP Paribas Securities Services Australia and New Zealand.
As part of the reshuffle, Katharine Seymour, formerly head of asset owner clients, will take on the new position of head of relationship management for existing asset owner and asset manager clients.
"Streamlining our relationship management function will allow us to maintain our focus on asset owner and asset manager clients, while sharing best practice and a consistent standard of service and client care between both," Jond added.