The bank said the appointment is the result of growth in demand for its custody and administration services on the back of the growing superannuation industry.
“We partner with government entities, superannuation funds, insurance companies, fund managers, banks, broker dealers and other institutional investors to offer a one-stop shop for all asset classes,” BNP Paribas Securities Services Australasia's head of salesm Ian Perkins, said.
“Mr Brand brings over 17 years' industry experience [to the role], spanning the banking and custody industries, including senior roles at ANZ and National Australia Bank where he has worked with leading superannuation funds and investment managers,” Mr Perkins said.
“In his most recent role, as director of funds, Financial Institutions Group at ANZ, Mr Brand was responsible for the business development and relationship management of a portfolio of institutional clients,” he said.
“We are delighted that Michael has joined our team in Melbourne,” Mr Perkins added, “and is part of our commitment to the development of the superannuation sector.”
Commenting on his new role, Mr Brand said BNP Paribas has completed significant investment in its products and services over the past few years.
“I’m excited to take this message to the Victorian market,” he said.
BNP Paribas Securities Services is the third largest provider in the local market in terms of assets under custody, totalling over $305 billion.
The firm provides global custody and fund administration solutions to many of the country’s largest asset managers. Globally, it holds over US$8 trillion in assets under custody and administers over 7,000 funds.
