By Jeff Patterson
BNP Paribas (PA:BNPP) has promoted Frederic Janbon to be the newest head of its investment management arm, whose appointment is tendered with immediate effect, according to a recent Reuters report.
Mr. Janbon previously served as the Global Head of Fixed Income at BNP Paribas, part of a lengthy career with the lender that began back in 1988. Back in November 2014, he relinquished this position and stepped into the role of special advisor to BNP’s general management – a position he has held up to the newly announced promotion.
In his new role as the head of BNP Paribas’ investment management arm, Mr. Janbon will help manage relationships with international institutional investors, whilst at the same time developing client solutions.
He will be replacing Philippe Marchessaux, who is slated to move into a different role at the bank – more information on his new appointment has not yet been determined, however Mr. Marchessaux has been a mainstay at BNP since 1987.
Mr. Marchessaux was appointed as the Chief Executive Officer (CEO) of BNP Paribas Investment Partners back on February 2009 and has been an active member of BNP Paribas Investment Partners’ Executive Committee since 2004.
The appointment is the first major move at BNP Paribas since August, when the lender brought in veteran Antonio Foti to shore up and manage its Italian Financial Institutions – Debt Capital Markets (DCM) business. Mr. Foti joined BNP Paribas from the Royal Bank of Scotland (L:RBS), having served as its Director of Financial Institutions – DCM for over a decade, dating back to 2005.