BNP Paribas today announced the appointment effective early January 2011 of Eric Raynaud as Head of Asia-Pacific (APAC) and Chief Executive Officer for Corporate and Investment Banking APAC. Eric will be based in Asia.
The appointment of Eric Raynaud is an integral part of BNP Paribas’ robust growth strategy for the Asia Pacific region. It underscores the Bank’s commitment to grow its franchise here in APAC including to capitalise on the opportunities created by the high-growth markets of China and India. It has come at an opportune time when the Bank is rolling out its Asia growth plan which includes an ambitious target to more than double the region’s revenues within the next three years. This will require the beefing up of human resources and talents; the enhancement of its product and service platforms as well as the up-tiering of its client franchise in the region.
A seasoned banker, Eric has spent over 12 years in Asia over the course of his career during which he was based either in Hong Kong or Singapore. His most recent Asian-based position was as Regional Head of Fixed Income and Treasury for BNP Paribas between 1997 and 2002. He subsequently moved back to Europe and became a member of BNP Paribas Corporate and Investment Banking’s Executive Committee, taking up senior management positions including, Head of Structured Finance and Head of Client Coverage. In May 2009 he was appointed Executive Board Member of BNP Paribas Fortis in addition to a role of Corporate and Investment Banking coordinator for the Asia Pacific Region. During his 18-month tenure at BNP Paribas Fortis, Eric strongly contributed to the integration process of Fortis Banque SA/NV and BNP Paribas.
“Asia Pacific is a priority market for BNP Paribas where we are already experiencing substantial growth in our Corporate & Investment Banking and Investment Solutions businesses. Eric’s appointment bears testament to our Group’s commitment for this region.” said Baudouin Prot, Chief Executive Officer, BNP Paribas Group.
“With his extensive international experience and in-depth knowledge of the APAC markets, his record of success in managing the businesses and his proven leadership, Eric is ideally positioned to help Corporate and Investment Banking capitalize on the multiple opportunities in both the mature and high-growth markets in the region.” said Alain Papiasse, head of BNP Paribas Corporate and Investment Banking.
“Besides developing Corporate and Investment Banking activities, one of my objectives will be to support also the growth of our Investment Solutions businesses in the region – such as Wealth Management, Asset Management, Insurance, Retail Brokerage and Global Securities Services – as well as to explore in the medium term selective ways to grow our Retail Banking business, whenever necessary developing ourselves in cooperation with Asian financial partners. I’m very enthusiastic about this new challenge” commented Eric Raynaud.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia Pacific.
* Rated AA by Standard & Poor’s i.e. 3rd rating on a scale of 22.
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