BNP Paribas Securities Services, the custody business of France’s BNP Paribas, has made two major Asia-Pacific appointments.

BNP Paribas Securities Services, the custody business of France’s BNP Paribas, has made two major Asia-Pacific appointments.

Stéphanie Marelle has been named head of Hong Kong. She is responsible for client relationships and service delivery for Hong Kong clients as well as her role as head of clearing and custody services/corporate trust services in Asia Pacific. She takes over from Bruno Campenon, who has relocated to New York as head of clearing and custody services/corporate trust services, Americas.

Marelle has more than two decades' experience in the clearing and custody and trust services industry. She joined the clearing and custody business of JP Morgan in 1993, which was acquired by BNP Paribas in 1995. Since then she has held roles in operations, sales and relationship management and corporate trust services in Paris, London, Frankfurt and Hong Kong. She was a consultant to the European Central Bank.

David Raccat, based in Singapore, has been appointed as head of market and financing services for the Asia Pacific region from 1 September in addition to his current role as head of global markets. The market and financing services business line offers principal and agency lending, foreign exchange, collateral management and outsourced dealing services as well as a variety of financing solutions to asset owners, asset managers, including alternatives and broker dealers.

Raccat joined BNP Paribas Securities Services in 1996 and was appointed head of global markets, covering forex, short-term interest rates, equity lending and agency lending, in 2011. He was appointed to the board of the International Securities Lending Association earlier on this year.

BNP Paribas Securities Services holds $9.5 trillion under custody.