BNP Paribas Securities Services has appointed Nobuya Shida as head of securities services in Japan. Shida joins BNP Paribas from Brown Brothers Harriman Japan, where he was most recently senior vice president and head of relationship management. Prior to that, he was with J.P. Morgan, where he held various senior positions, including head of Asia Pacific corporate banking and Osaka branch manager. ??
Shida has been appointed to grow BNP Paribas’ securities services business in Japan, which will provide services including global custody and clearing, financial operations outsourcing, and other global products to institutional investors and financial intermediaries. BNP Paribas is currently awaiting a foreign bank agency business license to be granted by the Financial Services Agency of Japan. ??
“This is another important strategic step in implementing our securities services business plan for the region – adding to our presence in Hong Kong, Singapore, China, Australia, New Zealand and India,” said Lawrence Au, head of Asia Pacific at BNP Paribas Securities Services. “We are delighted that Nobuya has joined our team. His breadth of experience and extensive business network will be significant assets in our efforts towards developing our business in the sophisticated Japanese market.” ??
BNP Paribas added that securities services in Japan are currently in strong demand with increasing offshore investment allocations by Japanese asset managers and asset owners, as well as securities firms and trust banks that continue to search for diversification and investment returns. The firm has won several mandates from Japanese clients this year, including a major global custody and fund services deal from a “top asset manager for its operations across the region, a custody mandate from a trust bank for its assets in Europe, and a clearing mandate from a securities firm for its activities in Hong Kong”.?
“BNP Paribas has a long history of operating in Japan and is a leader among the foreign banking groups in the market with strong and established relationships with many key institutions,” said Yannick Jung, general manager of BNP Paribas Tokyo Branch. “We are confident that our securities services solutions, combined with the strengths of other businesses in the Group, will provide Japanese buy-side and sell-side clients with the right long-term partnership to overcome market complexities in support of their investment offshore.” ?
Reporting by: Janet Du Chenne, Global Custodian, an Asset International publication