French bank BNP Paribas has hired former UBS and Societe Generale broker Andrew Chart to boost its London-based derivatives business targeting financial clients.
Chart, who left UBS at the end of year, joined BNP Paribas Securities Services at the start of August as a sales manager for financial intermediaries.
He reports to Simon Walker, BNP Paribas Securities Services’ London-based head of strategic account management for banks and brokers.
A spokesman for BNP Paribas declined to comment.
Chart left UBS at the end of 2017 when about 5% of the managing and executive directors in UBS’s various international equities and prime brokerage units (about 30 staff in total) were made redundant.
He was the Swiss bank’s London-based executive director of prime services and its head of exchange-traded commodity derivatives for Europe, the Middle East and Africa.
Chart joined UBS in late 2014 as a senior relationship management for the Swiss bank’s largest commodity clients. Previously, he spent more than 15 years in senior brokerage roles at French bank Societe Generale and brokers Newedge, Fimat and Man Financial.
The French bank said in mid-August it is looking to aggressively grow its custody business for UK asset managers.
Emma Crabtree, who runs European sales at BNP Paribas Securities Services, told Global Investor: “The UK is focusing on a very strong growth strategy in the asset management segment and the asset owner world.”
She added: “Our drive is to grow our share of the UK market”.
BNP Paribas Securities Services hired in early August four senior salespeople to focus on the UK and the Middle East.
Valeria Anderson took on the role of senior sales director for asset managers at the French bank after leaving her post as custody and agency services director at Bank of America Merrill Lynch.
Barry Kelly, previously at Centralis Group, became a business development manager for the asset management segment at BNP Paribas, former SS&C Technologies fund services director Colm O’Brien joined as a senior sales director for alternative investors and Omar Arti joined from Astinal Consulting to work as a sales and relationship manager targeting the Middle East.