The group’s current head of client strategy and communication, Peter Baker, has been announced as Mr Jond’s successor. He joined the group 18 months ago and has 25 years’ experience, most recently at State Street Investor Services as managing director, Australia, New Zealand and south east Asia; managing director UK, Middle East and Africa; and managing director Asia ex-Japan.
Michelle Crosbie will formally take over as chief operating officer for Australia and New Zealand, replacing Luc Vassort, the group stated. She has more than 25 years’ local experience including roles as head of operations at JP Morgan WSS and head of relationship management for NAS.
Ms Crosbie has been with BNP Paribas for the last five years, where she was COO for Securities Services based in London, developing strong ties with head office.
The six-month transition period will give Mr Baker the opportunity to meet with all clients and be fully briefed prior to taking over the role, ensuring a smooth transition, BNP Paribas stated.
“Michelle and Peter both have significant experience in the custody business and a deep understanding of the local markets. I am confident that these appointments will reinforce our local presence and play to our strengths as a leading custodian,” Mr Jond said.
Before taking on the local role, Mr Jond had a global role at the French bank as head of global sales and relationship management financial intermediaries. He also took on the role of chair of the Australian Custodial Services Association in 2011.
Mr Jond was appointed at the start of a significant building phase for the business and during his tenure the Australian location has obtained its banking licence, moved onto a global custody system in line with BNP Paribas’ global model and invested heavily in system development and commenced listed derivatives clearing, the bank stated.
The period saw Australia become one of 25 locations where the bank offers local custody to overseas clients, as well as a joint migration project with AMP and the on-boarding of over $100 billion of assets under custody in a single year in 2012, the bank stated.
“It has been very satisfying to navigate the Australian and New Zealand business through a period of important building and investment. We are poised for growth and it is the right time to hand over to a new head with strong links to the local industry,” Mr Jond said.
Mr Baker said the group’s investment over the last four years has “delivered a matured business model, and coupled with our status as the second largest Australian provider by assets under administration, we have never been better placed to offer new and existing clients the opportunity to leverage our strength. I am excited to take on this new role”.
