Serge Janowski the former chief executive of wealth management of Hong Kong and North Asia at BNP Paribas, has been named CEO of the Hong Kong branch of Crédit Agricole Suisse. He started the role 14 September but the bank announced it today.

He will report to Georges Zecchin, who was appointed CEO of Crédit Agricole Suisse in Asia last year.

Crédit Agricole Suisse was granted a full banking license by the Hong Kong Monetary Authority in March. It was followed by the opening of a wealth management booking centre in Hong Kong, in addition to the centres in Singapore and Geneva.

Meanwhile Sharon Chou, who headed up credit and risk at the BNP Pariba’s private banking arm, has left to join Pictet as head of wealth management for North Asia, joining several former colleagues. 

She succeeds Franco Cheng, who will become senior advisor to the board of directors and a non-executive board member of Pictet (Asia). The role is effective 1 January 2012, said the bank in a statement.

“Sharon’s appointment comes at an important time in Pictet’s regional expansion plan as we now offer full advisory and discretionary services and products to our clients across all asset classes and credit,” said Claude Haberer, head of Pictet Wealth Management Asia and Chou's former colleague. 

Haberer, previously head of key clients at BNP Paribas, left the bank in January this year to join Pictet.

The move follows a spate of departures from the French bank over the last nine months, which is thought to have been triggered by a new organisational structure for its wealth management division in Asia-Pacific announced in January, headed by Mignonne Cheng. Richard Mak, previously head of advisory at BNP Paribas Asia, is now also working at Pictet in a similar capacity. He joined in August.

Also the managing director and head of the bank’s non resident Indian business in Hong Kong, Ananda Bhaumick, left the bank this summer. Eric Goh, former managing director and head of advisory at the French bank also left in June this year to join JP Morgan Private Wealth Management as an executive director.

A Hong Kong-based industry source said: "The BNP defections are indicative of the current management style and the popularity of Claude Haberer. It is simply a case of pulling his best people over." He added that a few other more junior bankers had also moved to Pictet from BNP.

A source close to the bank said: "These moves are part of the natural turnover of the bank. The turnover rate for BNP Paribas Wealth Management has always been relatively lower than its peers. Due to intense competition in talent recruitment between private banks, the turnover rate of the whole industry increases in recent years but BNP Paribas' rate remains at a healthy level."

BNP Paribas Private Bank has been on the front foot hiring aggressively in recent months. Last month it announced a raft of senior hires, covered by this publication here.