BNP Paribas Securities Services is likely to appoint an interim team leader as it sets about the task of replacing its Australian head, Peter Baker.
BNP Paribas Securities Services Global Head of Coverage and Client Solutions, Charles Cock has told Super Review that an interim appointment was likely ahead of a search process which would be both internal and external to fill the role.
Mercer this week confirmed that Baker had been recruited from BNP Paribas as the head of the Mercer Sentinel team in the Pacific market.
It described Mercer Sentinel as being the specialist investment operations and implementation management team within Mercer's Investment business.
Commenting on Baker's departure, Cock acknowledged that it had been unexpected but added that it had been "friendly".
He said the challenge for the company was to find someone who had both an intimate knowledge of BNP Paribas but also a strong knowledge of the market — something which might take a number of months.
Commenting on the state of play in the Australian market, Cock noted the announcement which had been made with respect to the future of the National Australia Bank custody operation but said it was not something which was impacting the thinking within his company.
"We already have our presence here, but we will certainly be watching to see what eventuates," he said.
