BNP Paribas Asset Management has named Steven Billiet as the firm’s new head of Asia-Pacific, effective 8 August.
He will replace Ligia Torres, who is retiring from the firm and will return to Europe, according to a statement from the firm.
Torres has been with BNP Paribas Group for 23 years. Before she became Asia chief in 2016, she joined BNPP AM in 2013 to head up the development of the firm’s emerging market business. Before that, she was BNP Paribas Wealth Management’s UK regional CEO.
Based in Hong Kong, Billiet will be responsible for the expansion of BNPP AM’s Asia-Pacific business. He will report to Sandro Pierri, BNPP AM’s global head of client group and locally to Eric Raynaud, BNP Paribas’ Asia-Pacific head.
Billiet joined BNPP AM earlier this year as the firm’s head of distribution for Asia-Pacific. He will retain his regional distribution responsibilities in addition to his new role as head of the region, the statement noted.
He was previously JP Morgan Asset Management’s Singapore CEO, where he oversaw the overall management of the firm’s local set up and all client segments in Southeast Asia and Korea, according to the statement. In total, Billiet has 25 years of industry experience, 18 of which were in CEO roles of divisions within global organisations in Australia, India, Singapore and Taiwan.
Separately, BNPP AM also hired David Choa as its new head of Greater China equities earlier this month, also based in Hong Kong. He replaced Caroline Maurer, who will be joining HSBC Global Asset Management as head of Chinese and Hong Kong equities in September.
Just last week, the firm also rolled out the Environmental Absolute Return Thematic (Earth) Fund, which is a Ucits long short product that invests in various environmental themes.
BNPP AM had €553bn ($638bn) of global assets under management and advisory as of the end of March, according to the statement.