French lender BNP Paribas has hired Stanley Song from German rival Deutsche Bank as China co-head of its custodian and securities service subsidiary, BNP Paribas Securities Services.
Song will be responsible for strengthening and expanding the bank’s asset servicing capabilities in China, BNP Paribas says in a statement on April 21, when the appointment became effective.
Song, who was previously head of securities services at Deutsche Bank China, joins Philippe Kerdoncuff in the co-head role.
He reports to CG Lai, chief executive officer of BNP Paribas China and Frank Dubois, head of Asia Pacific at BNP Paribas Securities Services.
“Stanley’s appointment will further BNP Paribas Securities Services’ growth ambition in China – a key market for BNP Paribas – while we continue to invest in technology and local talent to provide value added global asset servicing experience for our clients,” Dubois says in the statement.
Paris-based BNP Paribas had 12.6 trillion euros (US$13.6 trillion) of assets under custody as of December 2021.
