BNP Paribas Securities Services is looking to enhance its role as a custodian through an increasing level of client engagement.
As part of its new focus on engagement between custodians and clients within Australia, BNP has created the new role of head of client strategy and communications, which will be filled by Peter Baker.
Speaking to InvestorDaily, Mr Baker - previously head of asset manager client relationships - said it's important for custodians to ensure they meet a client's long-term requirements.
"I think we've seen that we need to ensure we have a good understanding of where the market is heading and where investment trends are heading," Mr Baker said.
"Obviously, there is a lot at stake in navigating a changing world for our clients: product diversification, seamless access of information and client specific formatting.
"My newly-formed role allows me to ensure that BNP remains both connected to its existing clients as well as the market and therefore future clients."
In his new role, Mr Baker will be responsible for strategically developing client and consultant relationships and ensuring the business is following market developments
As a result of the new streamlined relationship management service, existing asset owner and asset management clients will both be organised under the new position of head of relationship management.
Former head of asset owner clients, Katharine Seymour, will fill this new role.
"We want to make sure that BNP's strategic direction as a custodian in Australia is understood and aligned to our existing and future clients," Mr Baker said.
